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Binance GBP Funding On-/Off-Ramp to Be Suspended in May
The exchange was notified by its fiat partner that it will no longer provide British pound deposit and withdrawal services.
Binance, the world's largest crypto exchange by trading volume, will suspend British pound (GBP) on- and off-ramps for new users on March 13 and for all users on May 22.
"Paysafe, our fiat partner that provides GBP deposit and withdrawal services via bank transfers and via card to Binance users, has advised us that they will no longer be able to provide these services from May 22, 2023," a Binance spokesperson told CoinDesk in an email.
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According to Binance, the change will affect less than 1% of users, and the exchange is working to find an alternative solution.
"In the meantime, all methods of depositing and withdrawing other fiat currencies as well as buying and selling crypto on Binance.com remain unaffected," the spokesperson added.
Stephen Alpher
Stephen is CoinDesk's managing editor for Markets. He previously served as managing editor at Seeking Alpha. A native of suburban Washington, D.C., Stephen went to the University of Pennsylvania's Wharton School, majoring in finance. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
