Binance, the biggest cryptocurrency exchange, said in a blog post on Friday, will be switching its current payments partner in Brazil to proffer solutions for users while driving the acquisition process from the local brokerage company Sim; paul, authorized by the Central Bank and the Securities and Exchange Commission (CVM).
It will switch from capitual to a local payment provider with extensive experience which will be announced soon.
To have a smooth transition in the coming week, Binance says it will take all necessary steps which include the legal related to capitual to prevent users from adverse effects of the transition.
As earlier reported by CoinDesk, Binance had suspended deposits and withdrawals in Brazilian reals via Pix. Binance said on the platform that deposits via Pix were experiencing instability because of a policy change made by the central bank, without providing further details, according to the report.
Some necessary arrangements made to suit the Users
- For deposits and withdrawals, users can also transact Via Binance’s P2P system (more information here ).
- Direct Pix and bank transfers are available via an alternative provider.
- For withdrawals, there is a “sell to card” option available for Visa, a new zero-cost feature.
Customers can get to the Binance support via official chat for help.
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