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Binance, the cryptocurrency exchange, has announced the discontinuation of its buy-and-sell platform, Binance Connect, previously referred to as Bifinity. This decision comes merely one year after its introduction, as stated by the company in an official release.
On August 16th, the cryptocurrency exchange Binance will temporarily suspend this service, as part of its strategic realignment towards core products and long-term objectives.
“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,” a spokesperson told CoinCryptoUs in an emailed statement.
In an endeavor to assist businesses in becoming "crypto-ready," Binance Connect was introduced in March 2022. This platform enabled merchants to embrace cryptocurrency payments. At its launch, the service was compatible with 50 different cryptocurrencies and accepted all prominent payment methods, including Visa and Mastercard.
