The trading pair USDT/COP is now available through Binance, both for commercial operations in the spot market and for other exchange products and services enabled on the platform.
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- Binance enables trading operations with the pair USDT/COP
- The idea is to energize and facilitate operations with Colombian pesos on the platform
- Available for spot market and direct exchange services
- The largest flow of operations with COP comes from the P2P market
- The measure comes into place after perceiving a certain maturation of the Colombian market
The exchange with the highest volume of commercial operations internationally, Binance, recently enabled a new trading pair on its platform, so now users will be able to use Colombian pesos (COP) to buy and sell USDT from the service.
Operations USDT / Colombian pesos in Binance
The announcement came in a statement provided by the team of Binance to the edition of DailyBitcoin, where they indicate that operations are already available USDT/COP in spot operations, which will allow Colombian users to use their local currency to buy and instantly exchange for the stablecoin issued by the team Tether.
According to the exchange, the new functionality also allows users to sell their USDT to receive Colombian pesos directly into your accounts at Binance.
In this regard, the general manager of Binance for Colombia, Central America and the Caribbean, Daniel Acosta, commented:
“With the listing of the USDT/COP pair, Binance opens a new alternative to access cryptocurrencies safely, with the aim of continuing to bring the crypto world closer to traditional finance and payments. Thanks to the development of these new alternatives, we can respond to various needs of Colombian users, making investing in crypto increasingly accessible, and thereby also contribute to the development of the ecosystem in the country.”
He also indicated that the arrival of the aforementioned trading pair “responds to the maturation of the Colombian market”this within the framework of the announcements made months ago by the team of Binance. Let us keep in mind that the exchange has long allowed residents of the South American country to manage local currency funds in their accounts, and make both deposits and withdrawals through the different enabled channels.
As indicated Binance, COP was also incorporated into Binance Convert, the tool to buy and sell cryptocurrencies immediately without having to go to the trading interface.
The incorporation of the new properties that involve the Colombian currency comes amid the great demand that the operations have. P2P in the country, a market in which a large number of residents trade to sell currencies such as USDT, Bitcoin, Ethereum, BNB, among other.
Colombia currently appears as one of the countries with the highest commercial adoption of cryptocurrencies in the region, while the country faces a kind of contradiction between the intentions to properly regulate these issues and the actions carried out by government entities.
Article by Angel Di Matteo / DailyBitcoin
Picture of Unsplash
WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.
