> Send Cash will be available for Binance users in Colombia, Honduras, Guatemala, Argentina, Costa Rica, Paraguay, Dominican Republic, Panama, and Mexico to transfer their crypto through Binance Pay to send funds to recipients with bank accounts in Colombia and Argentina, in a first stage, at the lowest cost in the market. 

Looks like Binance is trying to emulate Strike's Send Globally.

With Send Globally, the recipient doesn't need to provide identity verification. 

I bet with this attempt by Binance, KYC / identity verification will be required in order for a person to receive fiat.