Binance
Connect, the fiat-to-cryptocurrency payments service launched by Binancein March last year, will cease
operations tomorrow (Wednesday). A Binance spokesperson confirmed the development to
Cointelegraph.
According
to the spokesperson,
the decision to shut down the services provided by Binance
Connect was taken as part of Binance’s periodic review of its products
and services. The exchange continually adjusts its business strategy to align
with evolving market demands and user preferences, the spokesperson
told Cointelegraph.
However, in
an announcement posted on X on Tuesday, Biswap, a decentralized exchange that
runs on the Binance Smart Chain, noted that Binance made the “difficult
decision” to disable Binance Connect today “due to its provider closing the
supporting card payments service.”
“This
change aligns with the strategic efforts of Binance to focus on its core
business,” Biswap said, adding that it will turn off Binance Connect on
its website today at 01:00 PM UTC.
Dear Biswappers,
The Biswap team keeps abreast of the latest DeFi news and aims to inform you right away.
After a thorough consideration, @binance has made a difficult decision to disable @Binance_Connect on 15 August due to its provider closing…
