The Australian arm of binanceThe world biggest cryptocurrency Exchange said Thursday that some local customers can no longer deposit or withdraw funds after a third-party payment provider went out of service.
Binance announced on social media that effective immediately, users will not be able to make deposits in Australian dollars via bank transfer. Payments would also be discontinued, it was said, without giving any further information about the time.
“We are working hard to find an alternative provider that will continue to offer our users deposits and withdrawals in AUD,” Binance said in a statement.
According to the Australian Financial Review, the provider was Westpac Banking, the second largest retail bank in the country.
Westpac was not immediately available for comment when Reuters contacted him. A previous statement said it blocked some cryptocurrency payments to reduce fraud losses. No stock exchanges were identified, nor were any further details given.
The restriction is the second blow to Binance’s Australian operations in as many months, after Binance relinquished a financial services license following a regulatory investigation in April.
Customers can still make transactions using credit or debit cards, Binance said.
© Thomson Reuters 2023
