Zhao had some meetings to learn more about the Argentine market by inquiring about local businesses and crypto-related bills. The CEO of Binance highlighted that cryptocurrencies could transform and facilitate the life of Brazilians with the collaboration of authorities.
Changpeng Zhao, the CEO of Binance, recently went to Brazil and Argentina to discuss the growth of cryptocurrencies in Latin America. When the executive arrived in Buenos Aires, he held almost secret meetings to learn about the Argentine market.
During his visit, he talked to various people from the region interested in the relevance and future of cryptocurrencies. He also spoke about their growing adoption and the need for more education about blockchain worldwide.
Curiously, Zhao went to see the Superclásico soccer game between the River and Boca teams at the Monumental stadium. He attended that popular sports event because his firm recently sponsored the Argentine Football Association (AFA) and the current professional cup bears its name.
Besides enjoying the game, Zhao took advantage of having some meetings to learn more about the local market. He inquired about local businesses and crypto-related bills, as he might be particularly interested in regulatory issues.
Although the visit of Changpeng Zhao to Argentina was brief, he said he hoped to return soon and have more formal interaction. It is relevant to recall that Vitalik Buterin also went to the South American nation in December.
Changpeng Zhao Also Goes to Brazil
A few days ago, Changpeng Zhao also visited Brazil, where he took advantage of meeting with national leaders. He talked to the regulatory director of the Central Bank, Otávio Damaso, the mayor of Rio, Eduardo Paes, and the governor of São Paulo, João Dória.
Zhao confirmed his intentions to acquire banks and payment processors in Brazil. The businessman said that the South American country is relevant to his company. He highlighted that they were moving from an unregulated market to a regulated one.
For that reason, he said that it was crucial to build trust through face-to-face meetings. He gave the message in the context of a Memorandum of Understanding (MoU) to acquire a Brazilian stockbroker. He stated the objective is to develop the cryptocurrency and blockchain ecosystem further.
In that regard, Zhao highlighted that cryptocurrencies could transform and facilitate the life of people in the Brazilian market. He believes that the community and ecosystem in Brazil could develop with the collaboration of local authorities.
The CEO of Binance highlighted that the Central Bank of Brazil and the Securities and Exchange Commission (SEC) authorized the above stockbroker. He also stated that any agreement would require approval by the regulatory authorities, including the Central Bank. However, the companies did not announce any timeframe for closing the potential deal.
The executive always recommends that investors learn about cryptocurrencies before deciding to buy. In that way, they will be able to know how their prices have moved and predict the best time put their money in them.
By Alexander Salazar
