<\/p>\n
Binance Connect, the exchange\u2019s one-stop shop for crypto on-ramps and payment infrastructures, will shut down on Aug. 16, a Binance spokesperson told Blockworks.<\/p>\n
The company cited \u201cchanging market and user needs\u201d as a reason for the move, though it didn\u2019t elaborate any further.<\/p>\n
\u201cAt Binance, we periodically review our products and services to ensure that our resources continue to be focused on core efforts that align with our long-term strategy,\u201d a Binance spokesperson told Blockworks. \u201cWe consistently adapt and modify our business approach.\u201d<\/p>\n
Binance Connect launched<\/a> on March 7, 2022, initially under the name Bifinity.<\/p>\n Binance<\/a> Connect was also supposed to be the home for the exchange\u2019s NFT<\/a> checkout solution, a feature that never materialized.\u00a0<\/p>\n NFT checkouts enable users to buy non-fungible tokens using a variety of different payment methods. For example, MoonPay<\/a> has an NFT checkout that lets people pay with a credit card.<\/p>\n Initially, there was some confusion about when Binance was actually going to take Binance Connect down. Biswap, a decentralized exchange on the BNB Chain, tweeted<\/a> out at 3:55 am ET Tuesday that Binance would be shutting down the website for the fiat on-ramp solution \u201cat 01:00 PM UTC, August 15, 2023.\u201d<\/p>\n This turned out to be incorrect \u2014 that time has since passed, and Binance Connect<\/a> still appears to be operational as of 2:15 pm ET.<\/p>\n Get the day\u2019s top crypto news and insights delivered to your email every evening.\u00a0Subscribe to Blockworks\u2019 free newsletter<\/a>\u00a0now.<\/strong><\/p>\n Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, can\u2019t-miss tweets and more from\u00a0Blockworks Research\u2019s Daily Debrief<\/a>.<\/strong><\/p>\n Can\u2019t wait? Get our news the fastest way possible.\u00a0Join us on Telegram<\/a>\u00a0and follow us on\u00a0Google News<\/a>.<\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Binance Connect, the exchange\u2019s one-stop shop for crypto on-ramps and payment infrastructures, will shut down on Aug. 16, a Binance spokesperson told Blockworks. The company cited \u201cchanging market and user needs\u201d as a reason for the move, though it didn\u2019t elaborate any further. \u201cAt Binance, we periodically review our products and services to ensure that […]<\/p>\n","protected":false},"author":2,"featured_media":137652,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-137651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/137651","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=137651"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/137651\/revisions"}],"predecessor-version":[{"id":148346,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/137651\/revisions\/148346"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/137652"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=137651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=137651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=137651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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