Binance, a cryptocurrency exchange, is launching a new service that lets users in Latin America send crypto funds directly to bank accounts.
The service, called “Send Cash”, is powered by Binance Pay, the exchange’s own crypto payment technology platform.
Binance Pay has been growing in popularity in Africa, Asia and Eastern Europe.
With Send Cash, users from nine countries in Latin America can transfer money to recipients with bank accounts in Colombia and Argentina.
The service works with licensed transfer processing providers to ensure compliance and security.
The nine countries are Colombia, Honduras, Guatemala, Argentina, Costa Rica, Paraguay, the Dominican Republic, Panama and Mexico.