Binance closes its Binance Connect platform

Today, the cryptocurrency exchange announced the termination of the work of the platform that conducts the exchange of fiat for digital assets. We are talking about Binance Connect.

What are the reasons for the closure of the site

Biswap indicated as a reason that the support of the cards, which was carried out by the partners of the cryptocurrency exchange, had stopped.

The site was launched last spring. It united companies, merchants and buyers with the crypto industry and blockchain technologies.

The service supported more than 50 different cryptocurrencies. There were also other common payment methods, such as Visa and MasterCard.

A representative of the platform told CoinDesk that they periodically review their products and services to provide services. They consistently adapt and modify their business approach. This is a reaction to the changing needs of both users and the crypto market.

Recall that the service and strategic partnership with EQONEX caused a negative reaction from the FCA regulator. In the spring of this year, the exchange stopped working with the pound sterling.

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