Binance Australia, the world’s largest cryptocurrency exchange, has announced that some of its local customers will face disruptions in depositing or withdrawing money. This issue arises from a third-party payment provider terminating its services.
Specifically, users will no longer be able to deposit Australian dollars through bank transfers, and details regarding the duration of the withdrawal suspension were not provided. Binance is actively working to find an alternative payment provider to restore the functionality of AUD deposits and withdrawals.
According to reports, the payment provider in question is Westpac Banking Corp, the second-largest retail bank in Australia. While Westpac has not commented on the matter, it previously mentioned blocking cryptocurrency payments to combat scam-related losses without specifying the exchanges involved.
This setback follows Binance’s recent surrendering of its financial services license in April due to regulatory investigations. Nevertheless, customers can still conduct transactions using credit or debit cards, as confirmed by Binance.
