Main navigation

Binance's Key Payments Partner Severs Ties with Embattled Exchange

Mon, 07/12/2021 - 15:08
article image
Alex Dovbnya
Binance's woes continue to persist amid an ongoing regulatory clampdown
Binance's Key Payments Partner Severs Ties with Embattled Exchange
Cover image via
Read U.TODAY on
Google News

Global payments solution provider Clear Junction has confirmed that it will no longer facilitate either pound or euro payments to Binance.

It claims that the Financial Conduct Authority's recent notice regarding the exchange's London-based entity is the reason behind the decision:

Clear Junction can confirm that it will no longer be facilitating payments related to Binance. The decision has been made following the Financial Conduct Authority's recent announcement that Binance is not permitted to undertake any regulatory activity in the UK.

Last week, Binance also halted euro bank deposits from the Single Euro Payments Area (SEPA) network, citing events that are "beyond" its control.

UAE to Develop Its Own Cryptocurrency

The world's largest exchange was able to process deposits from both SEPA and the U.K.'s Faster Payments Service (FPS) with the help of Clear Junction.

Now that the partnership is over, Faster Payments withdrawals have been suspended for maintenance.

As reported by U.Today, both Santander UK and Barclays prohibited their customers from sending transfers to the embattled exchange after the FCA warned that Binance Market Limited was not permitted to conduct any regulated activity in Great Britain.

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at