With the adoption of Shiba Inu (SHIB), XRP, Bitcoin (BTC) and other cryptocurrencies supported by Binance Pay, crypto exchange Binance's payment technology will expand in nine Latin American countries thanks to a new move.
Binance has announced the launch of Send Cash in Latin America, a new product that will allow users to transfer crypto via Binance Pay from nine countries in the region, namely, Colombia, Honduras, Guatemala, Argentina, Costa Rica, Paraguay, the Dominican Republic, Panama and Mexico.
In its first stage, users would be able to transfer their crypto through Binance Pay to send funds to recipients with bank accounts in Colombia and Argentina at low costs through Send Cash. This way, family and friends can receive money directly into their bank accounts.
The new solution hopes to boost adoption as more people will be able to use Binance Pay and the services of licensed providers to make their digital transfers.
Binance Pay continues to expand in Latin America. As reported, the crypto payment technology Binance Pay made its debut in Brazil, the largest country in South America and the fifth-largest nation in the world.
Recently, Binance Pay announced collaborations with Despegar, Credencial Payment and Vita Wallet to increase payment and remittance options by adopting Binance Pay as a new payment method.
Binance Pay added support for SHIB in November 2022. Over 70 cryptocurrencies are supported by Binance Pay, which include: ADA, AVA, BCH, BNB, BTC, BUSD, CTSI, DASH, DOGE, DOT, EGLD, EOS, ETC, ETH, FIL, FTM, GRS, HBAR, IOTX, LINK, LTC, MANA, MATIC, ONE, PAX, QTUM, SXP, TRX, UNI, USDC and XRP.