Saturday, 25 May 2024

Crypto News

Binance Connect shutting down on August 16

Binance Connect shutting down on August 16

Binance Connect, the regulated buy-and-sell crypto arm of Binance exchange, will shut down on August 16. Cointelegraph confirmed on August 15 via an email with a Binance spokesperson. 

The same day, BNB Chain decentralized exchange Biswap tweeted that Binance “has made a difficult decision to disable Binance Connect on 15 August due to its provider closing the supporting card payments service.” The Binance spokesperson stated: 

“At Binance, we periodically review our products and services to ensure that our resources continue to be focused on core efforts that align with our long-term strategy. In the last six years, Binance has grown from being an exchange to a global blockchain ecosystem with multiple business lines. We consistently adapt and modify our business approach in response to changing market and user needs.”

This is a developing story, and further information will be added as it becomes available.