Binance to suspend GBP transactions as payments partner moves away
Quick Take
- Binance will suspend deposits and withdrawals of GBT for new users on March 13 and all users on May 22.
- The company said this will affect 1% of users and is working on new solutions after its current payments partner said it would no longer provide the services.
Binance will suspend GBP deposits and withdrawals after its payments partner Paysafe said it would no longer support them.
The move will affect new users starting March 13 and all users on May 22, a company spokesperson said over email.
"Binance will ensure that affected users are still able to access their GBP balances," that spokesperson also said.
The company estimates this will affect less than 1% of Binance users but is "working hard to find an alternative solution for them."
Meanwhile, users will still be able to deposit and withdraw other fiat currencies as well as buy and sell crypto on Binance.com.
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