Binance has activated a new QR-based payment feature in Argentina, allowing users to pay for goods and services with over 100 cryptocurrencies, including USDT and BTC, directly from the Binance application. The system processes transactions instantly with no fees, automatically converting the selected cryptocurrency to Argentine pesos at the current market exchange rate through a regulated local partner. Users can spend from their Spot, Funding, or Earn accounts, enabling daily purchases like coffee, food, and transportation without prior cash conversion.
Simultaneously, Argentina's National Securities Commission (CNV) expanded its tokenization framework under General Resolution No. 1087, building on earlier regulations. This update permits the tokenization of a wider range of financial instruments, such as shares, negotiable obligations, debt securities, and participation certificates in financial trusts, aiming to simplify processes and promote a more inclusive capital market. The resolution includes exemptions from listing requirements for fully digital representations to reduce administrative burdens and encourage technological adoption.
Andrés Ondarra, Binance General Manager for the region, described the payment method as a "leap toward true financial freedom", highlighting its speed and security. Roberto E. Silva, CNV president, stated that the tokenization regime positions Argentina at the forefront in Latin America and globally, strengthening the regulatory environment. The integration leverages Argentina's existing QR payment infrastructure, used by millions, to bridge the global crypto economy with local commerce, with Binance Pay recording over 45 million active users and $250 billion in transaction volume globally.
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