On February 21, the cryptocurrency exchange CommEX reported encountering temporary difficulties in withdrawing rubles through its fiat channel.
“Withdrawals to cards are operational, but the conversion rate is not very high,” platform representatives clarified in a comment to ForkLog.
They also stated that the current situation is unrelated to the suspension of withdrawals at QIWI Bank, as the exchange did not collaborate with it.
While resolving the issue, CommEX advised its clients to use the P2P marketplace.
Since January 25, all users have been allowed to post ads on the internal P2P platform.
Back in September 2023, CommEX acquired the Russian business of the bitcoin exchange Binance following its decision to exit Russia. The migration process between the platforms will take about a year.
Binance itself completely halted ruble operations from January 31, 2024.
As of January 2024, the number of CommEX users exceeds 400,000, with approximately 85% of clients based in Russia.