Hassan Maishera
TL;DR
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Binance has discontinued its Binance Connect service.
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The crypto exchange shut down the payment services to refocus on core products.
Binance Discontinues Binance Connect
Binance, the world’s largest cryptocurrency exchange by daily trading volume, has revealed that it has shut down its buy-and-sell service Binance Connect, formerly known as Bifinity.
This latest development comes roughly a year after the service was launched. According to the company, Binance Connect has been discontinued starting today as the cryptocurrency exchange wants to refocus on its main products and other long-term goals.
The cryptocurrency exchange stated that;
“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. In the last six years, Binance has grown from being an exchange to a global blockchain ecosystem with multiple business lines. We consistently adapt and modify our business approach in response to changing market and user needs.”
Binance Connect was launched in March 2022 and allows merchants to accept payments in cryptocurrencies. The service was launched to help companies accept cryptocurrency payments from their clients. Binance Connect supports 50 cryptocurrencies and all major payment methods, including Mastercard and Visa.
