#Binance has introduced a product that allows users to send Shiba Inu to Argentine and Colombian bank accounts.

Binance, the largest crypto exchange, recently announced a crypto-focused solution that allows Shiba Inu investors to spend Shiba Inu in nine countries. Binance specifically announced a new product called "Send Cash".

Paying with Shiba Inu from Latin America

According to the official statement, Send Cash will allow crypto enthusiasts to transfer digital assets such as Shiba Inu from nine countries in Latin America via the Binance Pay platform.

Binance explained that the goal behind the initiative is to allow individuals to seamlessly send digital funds directly to their friends' and family's bank accounts. The report highlighted nine Latin American countries where the Cash Sending service is valid.

These are Binance customers in Honduras, Argentina, Guatemala, Colombia, Costa Rica, Paraguay, Mexico, Panama and the Dominican Republic.

Meanwhile, the report said that at this initial stage, users in the above-mentioned nine countries will be able to Decant funds to the bank accounts of buyers in Argentina and Colombia through the Binance Pay service. The exchange also stated that the process will attract the lowest transaction fees.

In particular, Sending Cash will facilitate Shiba Inu's payments to Argentine and Colombian bank accounts to government-approved transfer services providers with Binance Pay. Binance believes that the initiative will facilitate cross-border transactions, saving time, effort and money.

Binance Vice President Reacts

Min Lin, Binance's Regional Vice President for Latin America, also stressed the importance of the development. He stated that:

“This is another step forward for Binance, which is renewing its commitment to the crypto industry in Latin America, expanding the benefits it offers in terms of financial inclusion and developing new ways to use crypto in everyday life.”

In addition, Binance detailed the role of financial inclusion in the fight against poverty and supporting economic growth. Data from the World Bank was cited to highlight that almost half of the adult population in the Caribbean and Latin America are financially excluded because they do not have access to traditional bank accounts.

Binance pointed out the place of crypto solutions in closing the financial gap as an example of Send Cash. Binance Pay supports other leading cryptocurrencies, mainly Bitcoin, Ethereum, XRP, Cardano (ADA), as well as USDT and USDC stablecoins. #Shibainu #crypto2023