Transfers using other fiat currencies are not affected.
Binance Holding Ltd., the world’s largest cryptocurrency exchange, has announced that it is temporarily suspending deposits and withdrawals in US dollars using bank accounts and that it will work to resume the service shortly.
According to the spokesperson, bank transfers using other fiat currencies, such as the euro, are unaffected.
Binance US will not be affected by the suspension.
Only 0.01% of our monthly active users use USD bank transfers, but we are working hard to resume service as soon as possible. “Other methods of purchasing and selling cryptocurrencies on Binance, such as credit card, Google Pay, and Apple Pay, remain unchanged,” the company stated in a statement.
As the lender reduces its commitment to digital asset markets, the crypto exchange announced last month that its banking partner, Signature Bank, would only process user transactions that exceeded $100,000.
Binance US, a separate entity dedicated to US users, stated that the move would not effect it.