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Binance is expanding its reach in Latin America offering a crypto-to-bank account payment scheme, named ‘Send Cash’. This allows users from nine Latin American countries to transfer crypto funds directly into bank accounts, leveraging Binance’s native crypto payment technology platform, Binance Pay. Binance’s initiative aims to overcome challenges linked to the financial exclusion in Latin America.

“High-net-worth individuals in Chile exhibit growing enthusiasm for crypto investments, with investment strategies increasingly incorporating cryptocurrencies. The newly-minted “Fintech Law” lends legal status to crypto assets, facilitating their inclusion in exchanges. A slight exposure to cryptocurrencies reportedly enhances traditional portfolio returns by 6-12% annually.”