We spoke with Maximiliano Hinz, who serves as „Latam Operations Launcher“ at Binance.

Over the past few months we have seen a number of activities and movements by Binance within Latin America, including the assignment of dedicated staff in the region to serve users and their specific needs.

One of these positions, recently created by Binance for the region, was „Latam Operations Launcher“, a position that has been held for months by Maximiliano Hinz from Argentina and has allowed the exchange to have another perspective on Latin America.

In order to learn more about these perspectives that Binance is proposing in the region and also to learn about some of the work that is being done in the region, we have talked to Hinz and asked him a series of questions.

Ezio Rojas (ER): What do you think Binance can bring to Latin Americans?

Maximiliano Hinz (MH): Binance’s mission is to democratise access to money. In Latin America there are often certain restrictions on the free mobilisation of capital. Binance allows anyone to use their money freely.
As it does not depend on any centralised entity, a user can acquire crypto-currencies through Binance and send them anywhere in the world or make fixed terms in currencies tied to the dollar or the Euro, something that in many countries in the region does not exist in the banking centres.
It also provides an alternative for security. People for different reasons sometimes choose to have large sums of cash in their homes, with cryptomonies they can have the same benefits of having cash with the security of not having the physical money.

(ER): Binance has been betting heavily on the P2P market in the region. Do you think you can be an important player within this sector?

(MH): Without a doubt, nowadays P2P is very important for us in Latin America. It is a great bet that we are making and it allows a lot of people to access the crypto market. We have seen people who, thanks to p2p, have set up businesses to buy and sell crypto, and many people also ask to send crypto to relatives in other countries. There are countless cases where crypto currencies have changed the lives of Latin Americans for the better and we have to take into account how new Bitcoin is (only 12 years since it was introduced!). I believe that the future is going to be crypto without a doubt.

(ER): Do you think that Latin Americans are betting on crypto currencies?

(MH): Yes, I wouldn’t say that all Latin Americans are betting on them, because adoption levels, in nominal terms, are still low. In any case, the interesting thing is to analyse their speed of growth. There the story is much better.
Latin Americans have seen in crypto a great benefit, which is to be direct owners of their money. With crypto we are not dependent on governments that issue money in an uncontrolled manner (thus affecting the value of the fiat currency) or on regulatory agents that limit our transactions. No one can tell us which crypto to save or which countries to send crypto-currency to and which not. Nor is there any way that someone can come and compulsorily take a part of our coins for tax purposes.  This makes crypto attractive in countries where these things are sometimes compromised.

(ER): What are the main focuses of Binance in Latin America?

(MH): Today, Binance is focusing on increasing people’s possibilities to access crypt coins in the simplest way possible, adapting to the requirements of each market.

The other strong point we are working on is to improve the local experience by generating localised pages for each country. We are also launching Binance’s social networks in Argentina, something we saw as necessary due to the growth the company has been having in the country.

The last strong focus is education, the only way we have for people to invest in this industry, is by knowing the product and this is achieved with education. In Colombia we are doing university tours and the idea is to replicate this in the rest of Latin America. Today we are limited to what the pandemic allows us to do, but we are taking advantage of digital platforms such as YouTube to hold webinars that seek to cover the entire spectrum, from those who know nothing of the ecosystem, to advanced trading classes.

(ER): What can we Latin Americans expect from Binance by 2021? Can we expect the Binance Card?

(MH): A lot of news! But we can’t count them before they come out. At Binance we are always looking for the best possible user experience and the only way to achieve this is with thorough testing. We don’t like to announce releases until they are 100% tested. Also, as I said before, the idea is to improve access to cryptomonkets from all points, ease, knowledge and user experience.

With respect to the Binance Card, it will depend on the regulations of each market. We would like it to be available everywhere, but we know that these types of products need to comply with many regulations before launch.

(ER): How do you think quarantine and COVID-19 have changed Latin Americans and their view of the digital economy?

(MH): I think it helped a lot in the adoption of digital money. This year, the last time I travelled was in March and I had not yet impacted the pandemic in Latin America, but looking at the Argentine market I see how the adoption of QR payments or mobile payments has grown in the country. While each country is different, in general, the numbers show that people have started to experiment with electronic payments. Also, companies started to use systems such as electronic checks. And this helps us all in the crypto world tangentially, as paying with an electronic wallet is not much different in the case of fiat or crypto.

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