This week has seen a flurry of activity in the crypto sector in Latin America, with both Binance and Circle announcing key initiatives. Binance is introducing a ‘Send Cash’ feature that enables crypto-to-bank transfers for residents of nine Latin American countries, while Circle is partnering with Mercado Pago in Chile to offer its USD Coin.Binance’s ‘Send Cash’ feature is designed to help residents of countries like Mexico, Argentina, Colombia, among others, to transfer cryptocurrencies into their conventional bank accounts. According to Binance, the feature will operate via Binance Pay, the platform’s proprietary payment program. Binance touts its new service as a more cost-effective and efficient method for transferring money.Regional VP for Latin America at Binance, Min Lin, emphasized that this is another step forward for Binance, which renews its commitment to the crypto industry in Latin America, to the expansion of the benefits it offers in terms of financial inclusion, and to developing new ways of using crypto in everyday life.Circle is bringing its USD Coin to Mercado Pago, the largest fintech company in Latin America, and specifically in Chile. USD Coin is a stablecoin that is anchored to the U.S. dollar, and its addition to Mercado Pago is viewed as an expansion of cryptocurrency utility and a boost for the U.S. dollar in Chile.The move aims to help the sizable portion of the population that doesn’t have traditional banking services, as well as tackle the high inflation rates experienced in many Latin American countries. Crypto is increasingly being used for remittances as well, especially in the context of ongoing inflation in these countries.Both Binance and Circle’s initiatives underscore the growing importance and adoption of cryptocurrencies in Latin America, as they offer more cost-effective and efficient methods for transferring money and tackling financial exclusion and high inflation rates.

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Information	Details
Geography	South America
Countries	🇲🇽 🇦🇷 🇨🇴 🇨🇷 🇵🇾 🇭🇳 🇬🇹 🇵🇦 🇩🇴 🇨🇱 🇭🇹 🇨🇺
Sentiment	positive
Relevance Score	10
People	Jeremy Allaire, Min Lin
Companies	Binance, Mercado Libre, Mercado Pago, World Bank, Circle
Currencies	Ethereum, US Dollar, Chilean Peso, Bitcoin, Mexican Peso
Securities	None