According to recent reports, Binance plans to broaden its services in Latin America through the official <a href="https://twitter.com/cz_binance/status/1696604151554220504?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1696604151554220504%7Ctwgr%5E69ce9cb70ff65df828a5ef06b7567dc47e69cb62%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbinance-crypto-bank-account-payments-latin-america" rel="noopener noreferrer nofollow">launch</a> of a new cryptocurrency-to-bank account payment method. 
<h2 id="span-style-font-weight-400-binance-introduces-send-cash-span">Binance Introduces ‘Send Cash’</h2> 
As per the <a href="https://www.binance.com/en/blog/payment/binance-announces-send-cash-in-latin-america-8142479410429401020" rel="noopener noreferrer nofollow">statement</a> released by Binance on August 30, the company is collaborating with authorized transfer processing companies for its new “Send Cash” offering, which enables customers in nine different countries to send cryptocurrency cash directly to a bank account. 
<h3 id="span-style-font-weight-400-nine-countries-to-receive-the-feature-span">Nine Countries to Receive the Feature</h3> 
With the new update, users in Colombia, Honduras, Guatemala, Argentina, Costa Rica, Paraguay, the Dominican Republic, Panama, and Mexico will have access to the service. <a href="https://pay.binance.com/en" rel="noopener noreferrer nofollow">Binance Pay</a> will allow residents of the mentioned countries to transfer money to people in Colombia and Argentina who have financial accounts.&nbsp; 
Min Lin, Binance’s regional vice president for Latin America talked about how the company had developed new cryptocurrency application scenarios “in everyday life.”&nbsp;&nbsp; 
He states: “Individuals and businesses in the region are very open to innovations that can solve the specific challenges they face.” 
<h2 id="span-style-font-weight-400-users-can-use-the-feature-via-binance-pay-span">Users Can Use the Feature via Binance Pay</h2> 
Binance Pay is a contactless, borderless, and secure cryptocurrency payment technology developed by Binance. The exchange’s in-house platform for cryptocurrency payment technologies has witnessed expansion in Africa, Asia, and Eastern Europe.&nbsp; 
Maximiliano Hinz, the chief executive at Binance Latin America, recently asserted that increased inflation is the primary catalyst of the <a href="https://thecoinrise.com/binance-latin-americas-executive-says-that-user-grows-as-inflation-rises/" rel="noopener noreferrer nofollow">most recent increase in customers</a> at the largest cryptocurrency exchange. 
<h3 id="span-style-font-weight-400-legal-issues-span">Legal Issues</h3> 
The news comes at a time when the crypto trading platform is facing a number of legal issues that raise concerns about its adherence to international rules and regulations. The exchange is apparently looking into various options for conducting business in many countries amid legal and regulatory instability. 
The latest statement from Binance revealed that its <a href="https://thecoinrise.com/binance-returns-to-the-belgian-market-details/" rel="noopener noreferrer nofollow">Poland division will allow Belgian people</a> to access its services. 
However, as reported by TheCoinRise, the leading crypto exchange is looking into an entire <a href="https://thecoinrise.com/binance-contemplates-leaving-russia-entirely/" rel="noopener noreferrer nofollow">withdrawal from the Russian market</a> due to ongoing <a href="https://thecoinrise.com/us-doj-investigates-binance-over-violations-of-russia-sanctions/" rel="noopener noreferrer nofollow">investigations by the US Justice Department</a> into whether Binance was used by Russian organizations to avoid US sanctions. 
The post <a rel="noopener noreferrer nofollow" href="https://thecoinrise.com/binance-debuts-send-cash-feature-in-latin-america/">Binance Debuts ‘Send Cash’ Feature in Latin America</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://thecoinrise.com">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Binance Debuts ‘Send Cash’ Feature in Latin America

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