Binance launches new service in Latin America
Binance launches new service in Latin America
Binance, the world's largest exchange by trading volume, announced the launch of Send Cash, a new platform in Latin America that allows users to transfer digital assets via Binance Pay.
Users in Colombia, Honduras, Guatemala, Argentina, Costa Rica, Guatemala, Paraguay, the Dominican Republic, Panama, and Mexico can now make fast and profitable digital transfers to traditional bank accounts using cryptocurrency payment technologies offered by Binance Pay and services from licensed providers, according to the exchange's website.
It is worth noting that in the first phase, users of the platform in Latin America will be able to send funds directly to bank accounts in Colombia and Argentina.
"This is another step forward for Binance, which renews its commitment to the crypto industry in Latin America, to the expansion of the benefits it offers in terms of financial inclusion, and to developing new ways of using crypto in everyday life. Individuals and businesses in the region are very open to innovations that can solve the specific challenges they face, and, at Binance, we continue to work to respond to them with products that fit those local needs," said Min Lin, Regional Vice President for Latin America at Binance.
The launch of the new platform follows Binance's decision to suspend debit card services in Latin America and the Middle East, which the exchange said would affect a small number of its users.
Read also: Elon Musk prepares to launch cryptocurrency payments in X.
