Binance has informed its retail customer base that the hidden impending service interruption may interrupt the online banking payment and transfer at the left and right ramps.
The interruption of service items will affect those consumers who want to use the SWIFT payment platform to trade cryptocurrency at a price of less than US $100000 and have bank accounts in US dollars. The interruption will take effect on February 1.
Binance sent an email to "Binancians" on January 21 to announce this information, focusing on the fact that they are currently "actively seeking" a new SWIFT (US dollar) partner to prevent the interruption of online banking payment and transfer services in the future.
Cryptocurrency Exchange added that this is also the determination of financial institution partners. Binance is not easy to be the only trading website affected by the change:
"This is the case for every customer of their data encryption exchange. It is important to note that before we can find a replacement solution, you may not be able to use your bank account to purchase and sell cryptocurrency with a value of less than 100000 US dollars after February 1, 2023 according to SWIFT."
However, Binance does pay attention to that customers can still use their bank credit card or savings card to buy and sell cryptocurrency, and the payment of third-party exchanges still needs to be resolved.
Cryptocurrency Exchange said that according to SWIFT, the transfer will continue to be used for non-US dollar bank transfers, such as Europe.
Binance determined that this change would not affect its "enterprise account"
According to a Bloomberg report on January 21, the bank partner involved is Signature Bank. Bloomberg explained that the financial institution set a minimum transfer limit of US $100000 to reduce its leverage ratio in the digital money market.
Although the interruption of financial services was not Binance's decision, the trading website recently stopped transferring funds.
Binance recently suspended the USDT and USDC savings according to Solana on November 17.
The Exchange also temporarily stopped the saving and withdrawal of ETH and wETH 10 days before the combination of Ethereum.
Upgrade UTC at 12:50 a.m. on January 22: plus Bloomberg statement.
Polkadot was launched in May 2020. In a market dominated by Bitcoin and Ethereum, it quickly established itself as the next generation blockchain. The scale and interoperability problems limit Bitcoin's ability to transfer value without the assistance of
For some newcomers to the currency circle, they are not familiar with the investment in the currency circle, and their understanding of the special currency is not very deep. Therefore, they may be at a loss in the choice of investment methods. Many inves
Lummis is a well-known crypto advocate on Capitol Hill with over $100,000 in crypto.
Several analysts argue that shrimp accumulation is good for the Bitcoin network because it makes the asset more decentralized over time.
ARK Invest filed for a spot Bitcoin ETF in collaboration with 21Shares long before BlackRock did, and its application is reportedly first in line for the SEC’s approval.
Interestingly, the price surge was on the back of increased activity from whales, as indicated by on-chain data. The increased activity led to an increased"/>
Recent market dynamics have seen Solana struggling to break above the $200 mark. A notable bearish factor among these market fundamentals is the recent"/>
DOGE, the internet's favorite memecoin, is back in the spotlight. Recent data reveals a surge in futures market activity, coupled with bullish technical"/>
The recent stratospheric rise of Bitcoin, reaching a new all-time high of $73,000, has sent ripples of excitement and trepidation through the crypto world."/>
Co-founder of Tornado Cash Roman Storm has filed a motion to dismiss the charges levied against him by the US Department of Justice (DOJ)."/>
On Thursday, March 28, a hack occurred on Prisma Finance, a decentralized lending protocol on the Ethereum network. The exploiter carted away about 3,257.7"/>
Once fully licensed in Dubai, Bybit plans to run a full-scope exchange, offering crypto lending, payments, investment and other services.
Tue, 18 Apr 2023