Binance has introduced a fresh feature for its clients in Latin America. This feature enables users in nine countries in the region to send cryptocurrencies through Binance Pay. As a result, individuals in Argentina and Colombia can conveniently receive these crypto transfers directly into their bank accounts.

This new feature, named "Send Cash," was announced by Binance on August 29th. It offers a more streamlined and economical way of transferring digital funds, with the intention of addressing the existing issues related to financial accessibility in Latin America.

The Global Fintex Report for 2021 by the World Bank reveals that 42% of adults in Latin America lack access to traditional banking services, which is significantly higher than the global average. "Send Cash," which will soon be available in countries like Colombia, Mexico, and the Dominican Republic, aims to provide Binance users with a hassle-free and affordable solution, thereby tackling the challenges of financial inclusion.