Binance Australia suspends Australian dollar settlement ── payment provider’s decision | coindesk JAPAN | Coindesk Japan

Binance Australia has stopped accepting Australian dollar (AUD) deposits and withdrawals via bank wire, as announced in May.Announced June 1st.

On May 18, Binance Australia announced that it will no longer be making AUD bank transfers using PayID, “as determined” by a third-party payment service provider. The May 22nd update said the service would continue until June 1st.

The latest tweet states that users can buy and sell cryptocurrencies using credit and debit cards and that they are “working hard to find alternative providers.”

Fellow Binancians,

We regret to inform you that AUD deposits and withdrawals by bank transfer are no longer available to Binance users in Australia. Binance has ceased all AUD trading pairs as of June 1. In order to facilitate withdrawals and trading activities after June 1, you…

— Binance Australia (@Binance_AUS) June 1, 2023

Over the past few days, Bitcoin (BTC) has been trading nearly 20% cheaper on Binance Australia than on rival exchanges.

In April, following a request from Binance, the Australian Securities and Investments Commission (ASIC) had revoked Binance Australia’s derivatives license.

｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
｜Image: Shutterstock
｜Original: Binance Australia Stops AUD Bank Transfers as Search for Payment Partner Drags On