Summary

• Binance has launched Send Cash in Latin America, a new product that allows users to transfer crypto to their bank accounts.
• The new solution leverages Binance Pay's crypto-payment technology and licensed transfer processing providers to streamline digital transfers.
• Send Cash is initially available in Colombia, Honduras, Guatemala, Argentina, Costa Rica, Paraguay, Dominican Republic, Panama, and Mexico.
• Users can send crypto funds via Binance Pay to recipients who hold bank accounts in Colombia and Argentina.

Binance, on August 29, announced the launch of Send Cash in Latin America. The innovative new product will empower users across 9 countries in the region to seamlessly transfer crypto via Binance Pay to their bank accounts.

The new solution leverages Binance Pay's cutting-edge crypto-payment technology, in collaboration with licensed transfer processing providers to streamline digital transfers, significantly reducing both time and costs associated with cross-border transactions.

Initially available in Colombia, Honduras, Guatemala, Argentina, Costa Rica, Paraguay, Dominican Republic, Panama, and Mexico, Send Cash allows Binance users to send crypto funds via Binance Pay to recipients who hold bank accounts in Colombia and Argentina, at the most competitive rates. 

"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,” said Min Lin, Binance's Regional VP for Latin America.

Binance Pay's recent partnerships with Despegar, Credencial Payment, and Vita Wallet have further fortified the platform's commitment to expanding payment and remittance options, ultimately enhancing the efficiency of cross-border payments.