Binance’s SWIFT has banned USD transfers below $100K
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Binance’s banking partner SWIFT has decided to stop USD wire transfers below $100K. The termination of bank payment transfers will go into effect on 1 February. The news was released by Binance on 21 January in the form of a letter, where the exchange platform stressed that it is looking for a new SWIFT (USD) partner to avoid this type of disruption. Binance: the ban on transfers via SWIFT payment system Retail customers of Binance have now been informed, the SWIFT payment service is discontinuing a certain type of bank payment transfers. However, the world’s largest exchange platform wanted to
Binance noted that Signature Bank only services 0.01% of its monthly average users. The exchange also stated that its other banking partners were not impacted by Signature’s decision. Cryptocurrency exchange Binance announced that its SWIFT partner Signature Bank will begin blocking USD transfers lesser than $100,000. Binance made this note…