Binance introduces a product that lets users send Shiba Inu to bank accounts in Argentina and Colombia.
Binance, the biggest crypto exchange, has launched a crypto solution that lets Shiba Inu investors use their Shiba Inu in nine countries. They’ve named this new product “Send Cash.”
Using Shiba Inu for Payments in Latin America
According to the official announcement, Send Cash will allow crypto enthusiasts to send digital assets like Shiba Inu through Binance Pay from nine Latin American countries.
Send money to family and friends in Latin America with our new product, Send Cash.
You can now transfer crypto via #Binance Pay from 9 countries in the region, allowing your loved ones to receive funds directly into their bank accounts.
Explore below ⬇️https://t.co/jsV2f8RQSM
— Binance (@binance) September 1, 2023
Binance’s goal with this initiative is to make it easy for people to send digital money directly to their friends and family’s bank accounts. The service is initially available in nine Latin American countries, including Honduras, Argentina, Guatemala, Colombia, Costa Rica, Paraguay, Mexico, Panama, and the Dominican Republic.
In these nine countries, users can use Binance Pay to send money to bank accounts in Argentina and Colombia with the lowest transaction fees. Send Cash will work alongside government-approved transfer service providers, making Shiba Inu payments to Argentinian and Colombian bank accounts more convenient and efficient. Binance expects this initiative to simplify cross-border transactions, saving time, effort, and money.
Response from Binance Vice President
Min Lin, Binance’s Regional Vice President for Latin America, highlighted the importance of this development, stating:
“This is another step forward for Binance, reaffirming its commitment to the crypto industry in Latin America, expanding the advantages it offers in terms of financial inclusion, and creating new ways to use crypto in daily life.”
Binance also emphasized the role of financial inclusion in addressing poverty and promoting economic growth. It referenced World Bank data, underscoring that nearly half of the adult population in the Caribbean and Latin America lacks access to traditional bank accounts.
Binance highlighted the role of crypto solutions, like Send Cash, in bridging this financial gap. It’s worth noting that Binance Pay supports other popular cryptocurrencies such as Bitcoin, Ethereum, XRP, Cardano (ADA), and stablecoins like USDT and USDC.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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