Skrill will suspend its support for the Binance exchange

Binance confirmed that soon Binance customers will not be able to use Skrill to deposit British pounds. 

Binance is a popular first-ranked crypto company company by 24-hour trade volume on the platform. To this date, Binance stands in the crypto sector as the most reputable crypto company because of its transparent & secure services. Initially, this exchange was launched in 2017 as a Chinese crypto company but later shifted its headquarters outside China citing the risks of the crypto ban. 

On 13 March 2023, Binance exchange sent an email to its Binance customers that Skrill Limited was ordered to cease & desist services for the Binance exchange.

Soon, Skrill will suspend its all payment supports like Pound deposits and withdrawals via wire transfer.

“We regret to inform you that our GBP fiat partner, Skrill Limited, has informed us that it will stop offering GBP fiat services, namely deposits, and withdrawals via Faster Payments and card, to Binance users,” the Binance mail read.

The impact of this decision will come into effect by 22 May 2023. So here Binance needs to find another banking partner for its customers before May of this year. 

A Binance official spoke with the popular crypto news website Cointelegraph and said that it will impact less than 1% of Binance customers but Exchange will try to find another alternative GBP payment-supportive banking partner. 

“This change affects less than 1% of Binance users. However, we know that these services are valued by our users and our team is working hard to find an alternative solution for them.”

 Binance spokesperson confirmed that it will not impact Binance’s other payment support services like fund deposit with card payments. 

Earlier this in the second week of Feb 2023, Binance suspended the US dollar deposits via wire transfer. Binance confirmed that its US banking partner terminated support because of regulatory heat. 

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