The Australian subsidiary of Binance has suspended Australian dollar services as its local payment service provider stopped support for the crypto exchange’s service.
According to a tweet on Thursday morning, Binance confirmed that the deposit services with PayID AUD were halted “due to a decision made by our third-party payment service provider.”
We regret to inform you that with immediate effect we are unable to facilitate PayID AUD deposits for Binance users due to a decision made by our third party payment service provider. We understand from our third party payment service provider that Bank…
— Binance Australia (@Binance_AUS) May 18, 2023
Though withdrawals are working for the time being, Binance is also expecting a disruption in its bank transfer withdrawals. However, it is unknown to the exchange when the withdrawal support will stop. The exchange is now looking for an alternative payment service provider in Australia.
“We understand from our third-party payment service provider that Bank Transfer withdrawals will also be impacted, and we will advise users on timeline when this is confirmed,” Binance added.
“You can still buy and sell crypto using credit or debit card, and our Binance P2P marketplace will also continue to operate as usual.”
Banks Moving Away from Crypto, Again
Westpac, a major banking institution, also banned its customers from making payments to…
Click Here to Read the Full Original Article at CryptoCurrency – Finance Magnates | Financial and business news…