Breaking News - Binance Launches 'Send Cash' Remittance Services in Latam

Binance Launches 'Send Cash' Remittance Services in Latam On Tuesday, Binance announced the launch of ‘Send Cash,’ a new service that seeks to ease the burden of Latam crypto users trying to send remittances to friends and family in Latam. In a press release, Binance explained that this new tool will allow users in 9 countries of Latam – Colombia, Honduras, Guatemala, Argentina, Costa Rica, Paraguay, Dominican Republic, Panama, and Mexico – to send funds directly to the bank accounts of users located in Colombia and Argentina “at the lowest cost in the market.” Binance also hinted at the possible expansion of this program to other countries of the region, explaining that Colombia and Argentina were part of a “first stage” of this service. What simplifies the process for the receiving users is that thanks to Binance’s “services of licensed transfer processing providers,” they will receive the funds directly into their bank accounts. This allows remittance receivers to avoid the hassle of using third-party services to obtain fiat after receiving cryptocurrency, bringing the possibility for less crypto-savvy users to benefit from this service. Nonetheless, the exchange had to suspend some of its card services in Latam recently after Mastercarddecided to terminate its relationship with the company.