Binance Launches Crypto-to-Bank Payments in Latin America

The cryptocurrency exchange, Binance has launched a new platform called ‘Send Cash’, which allows users from nine Latin American countries to send crypto funds directly to bank accounts based in Colombia and Argentina.

According to Binance, its users can transfer digital funds faster through licensed providers at a reduced cost with the new product.

For Binance users, Send Cash will be available in the Dominican Republic, Honduras, Panama, Costa Rica, Guatemala, Colombia, Argentina, Paraguay, and Mexico to transfer their crypto to send funds to recipients with bank accounts in Colombia and Argentina.

Send cash.
Instant. Low fees. https://t.co/sqBnIAqABQ

— CZ 🔶 Binance (@cz_binance) August 29, 2023

The move followed shortly after Binance withdrew a crypto card payment program with Mastercard in four Latin American countries, including Argentina and Colombia. Outside Latam too, Binance is struggling with its payment partners. The Changpeng Zhao-led exchange
Exchange

An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv

An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
Read this Term was recently caught enabling Russians to purchase cryptos on its peer-to-peer trading platform
Trading Platform

In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader…