\n
![](\"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=840\/https:\/\/s3.cointelegraph.com\/uploads\/2023-08\/a93801a9-cd10-4f77-9faf-a4de26a048b3.jpg\")
<\/p>\n
\n<\/p>\n
Binance Connect, the regulated buy-and-sell crypto arm of Binance exchange, will shut down on August 16. Cointelegraph confirmed on August 15 via an email with a Binance spokesperson.\u00a0<\/p>\n
The same day, BNB Chain decentralized exchange Biswap tweeted that Binance\u00a0“has made a difficult decision to disable Binance Connect\u00a0on 15 August due to its provider closing the supporting card payments service.” The Binance spokesperson stated:\u00a0<\/p>\n
“At 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. 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.”<\/p><\/blockquote>\n
\nDear Biswappers,<\/p>\n
The Biswap team keeps abreast of the latest DeFi news and aims to inform you right away.<\/p>\n
After a thorough consideration, @binance<\/a> has made a difficult decision to disable @Binance_Connect<\/a> on 15 August due to its provider closing the supporting card payments\u2026 pic.twitter.com\/HcooyLn4sg<\/a><\/p>\n
\u2014 Biswap (@Biswap_Dex) August 15, 2023<\/a><\/p><\/blockquote>\n
This is a developing story, and further information will be added as it becomes available.\n<\/p>\n<\/div>\n