Binance, known for being the largest cryptocurrency exchange in the world, today announced the formation of a strategic partnership with Banco Capitual. The objective is to democratize and promote the adoption of cryptocurrencies in Brazil, offering its local users the possibility to deposit directly in the exchange, in reais, without paying fees.
Hybrid Digital Bank
Capitual, an institution chosen by Binance to strengthen its position in the local national market, is the first hybrid digital bank in Brazil. Designed for the future, the bank offers its customers a variety of banking services, both traditional and innovative, bringing holistic integration into the global financial system, without fees and with a high level of security. In it, users can trade with both cryptocurrencies such as Binance USD, Bitcoin, Dai, Dash, Ethereum, Litecoin, Tether and USD Coin as well as fiat currencies, including Real, Dollar, Euro, Pound Sterling and gold.
The new partnership allows all Brazilian users, and not just those who are customers of both institutions, to add or remove funds directly into their Binance account using bank transfers. However, Binance users who also have a Capitual account will benefit from some additional advantages, involving greater agility in transactions and the possibility to move their funds between platforms at any time of any day, including weekends and holidays.
The arrival of PIX, the new means of payments and transfers from the Brazilian Central Bank, whose operations begin in November, is also being implemented at Banco Capitual. In addition, users of the platform in Brazil will be able to convert their cryptocurrencies into reais and withdraw money from Banco24Horas ATMs available throughout the country. This service is available due to the partnership already signed by Capitual with Tecban, responsible for the network's ATMs.
The new partnership signed between Binance and Banco Capitual is a great advance for all Brazilians, who will now be able to count on high quality financial services without the “traditional” abusive rates. More than ever, cryptocurrency users will have the flexibility to deposit, withdraw, transfer or convert their money with convenience and security.