Binance Introduces Send Cash in Nine Latin American Countries

The company has introduced an innovative platform called “Send Cash” to facilitate cryptocurrency transfers to traditional regional bank accounts.

This initiative aims to offer efficient and cost-effective money transfer services to users in nine nations: Colombia, Honduras, Guatemala, Argentina, Costa Rica, Paraguay, the Dominican Republic, Panama, and Mexico.

Send Cash utilizes the capabilities of Binance Pay, merging cryptocurrency payment technology with licensed services to expedite digital transfers, thereby enhancing efficiency and reducing costs.

Initially, the platform will enable the direct transfer of funds to bank accounts in Colombia and Argentina. This strategic move aligns with the organization’s commitment to advancing the cryptocurrency industry in Latin America and promoting financial inclusion.

Min Lin, Binance’s Regional Vice President for Latin America, emphasized the company’s dedication to providing regionally tailored solutions.

“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,” Lin stated.

This initiative follows the company’s recent decision to discontinue debit card services in Latin America and the Middle East. Although the precise reasons for this change were not specified, it was noted that only a small fraction of consumers would be affected.

As the company shifts its focus to the innovative Send Cash platform, it reaffirms its dedication to promoting the adoption of cryptocurrencies in routine transactions in Latin America.