Binance closes Jersey crypto-fiat exchange

The Europe- and UK-focused crypto-fiat exchange Binance Jersey will cease operations at the end of November 2020. Cointelegraph reports.

Information about the closure of the Jersey branch was confirmed by the company’s chief executive, Changpeng Zhao.

The reason is: better fiat gateway already supported by https://t.co/ukvU1dD0G1.

No loss of features to users. https://t.co/NakZUER41u

— CZ Binance (@cz_binance) October 19, 2020

Binance Jersey will restrict new deposits in euros, pounds sterling and supported cryptocurrencies on October 30. Trading and withdrawals on all pairs will be allowed until November 9. Full shutdown is planned for November 30.

According to analytics site CoinMarketCap, Binance Jersey’s trading volume over the past 24 hours stood at $201,703.

Source: CoinMarketCap.

The company opened a Jersey-based branch in January 2019. It was envisaged that Binance Jersey would serve as a gateway to Europe and the United Kingdom as part of the exchange’s global expansion.

Earlier Zhao announced several major strategic acquisitions in 2020. Binance also planned to add support for 180 fiat currencies.

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