Binance has recently unveiled a new feature for its Latin American clients, allowing users in nine Latin American nations to send crypto via Binance Pay. Beneficiaries in Argentina and Colombia can directly collect these transfers into their bank accounts.The new “Send Cash” feature promises a more efficient and cost-effective method of digital money transfer, addressing the prevalent financial inclusivity challenges in the region. According to the World Bank’s Global Fintex 2021 report, 42% of adults in Latin America lack bank access, which is nearly double the global average.Min Lin, Binance’s Regional VP for Latin America, expressed the company’s dedication to Latin America, stating, “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.”Binance’s progressive approach follows its recent collaborations with Despegar, Credencial Payment, and Vita Wallet. These alliances are geared toward broadening payment avenues, with Binance Pay positioned as a primary payment option, particularly for cross-border transactions.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	South America
Countries	🇨🇴 🇲🇽 🇩🇴 🇦🇷
Sentiment	positive
Relevance Score	8
People	World Bank, Min Lin
Companies	Binance, Vita Wallet, World Bank, Despegar, Credencial Payment
Currencies	None
Securities	None