OKEx launches Latin American fiat gateway with Settle Network

Cryptocurrency spot and derivatives exchange OKEx has partnered with Settle Network, a global fiat-crypto solution provider to allow OKEx users, via Settle Networks' Latamex product, to buy bitcoin (BTC) and ethereum (ETH) on the exchange with Argentine peso (ARS), Brazilian real (BRL), and Mexican peso (MXN) using direct bank transfer.

Settle Network is the largest digital assets settlement network across Latin America for exchange and cross-border payments, providing programmatic interoperability between traditional and digital assets by leveraging financial infrastructures of LATMA countries.

“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,” says 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.”

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 a much improved experience in crypto-to-fiat trading and payment process through bank transfer.