OKEx, a crypto and derivatives exchange, has partnered with Settle Network. Through Settle Network’s “Latamex” product, OKEx users now can buy Bitcoin (BTC) and Ethereum (ETH) on the exchange with Argentine Pesos (ARS), Brazilian Reals (BRL), and Mexican Pesos (MXN) using direct bank transfers.
OKEx states that Settle Network is the largest digital assets settlement network in Latin America for exchange and cross-border payments.
“One of the important goals of OKEx is to enable everyone to enjoy intermediary-free financial services by promoting blockchain-driven economy. For that, it’s essential to lower the threshold for the exchange between cryptocurrencies and fiat currencies in order to cover users in more countries and regions,” said Jay Hao, CEO of OKEx. “The cooperation with Settle Network is of strategic significance to OKEx. Latin American users can now purchase BTC and ETH with multiple local currencies in a compliant way through bank transfers. In the future, OKEx will continue to expand the coverage of fiat currencies to allow more users to purchase cryptocurrencies more conveniently.”
OKEx notes that currently about 2 billion adults worldwide do not have bank accounts or are under-banked and Latin America occupies a large proportion.
Be that as it may, thanks to the its intermediary-free nature, cryptocurrency has begun to play an increasingly important role in the field of financial services.
For most people, the first step to enjoying blockchain-driven financial services is to convert local currencies to cryptocurrencies. As of now, OKEx has supported a vast majority of fiat currencies worldwide. Thanks to the partnership with Settle Network, through its wide array of products such as Latamex, Settle X, and PSP Xramp, etc, OKEx users will enjoy an much improved experience in crypto-to-fiat trading and payment process through bank transfer.