Media: Binance to shut down Advcash fiat gateway

The cryptocurrency exchange Binance plans to terminate its partnership with the Advcash payment system. The The Wall Street Journal reports, citing sources familiar with the decision.

According to their information, the reason is that through this gateway customers were transferring funds from sanctioned Russian banks.

Advcash is registered in Belize. Binance opened deposits and withdrawals in Russian rubles through it in October 2019.

An Advcash spokesperson said that they had not received any updates from the crypto exchange about their partnership.

Earlier in September 2023, Binance announced its exit from Russia and the sale of the local business of CommEX.