Binance Connect is shutting down on Aug. 16

Binance Connect launched on March 7, 2022, initially under the name Bifinity

article-image

ANTON ZUBCHEVSKYI/Shutterstock modified by Blockworks

share

Binance Connect, the exchange’s one-stop shop for crypto on-ramps and payment infrastructures, will shut down on Aug. 16, a Binance spokesperson told Blockworks.

The company cited “changing market and user needs” as a reason for the move, though it didn’t elaborate any further.

“At Binance, we periodically review our products and services to ensure that our resources continue to be focused on core efforts that align with our long-term strategy,” a Binance spokesperson told Blockworks. “We consistently adapt and modify our business approach.”

Binance Connect launched on March 7, 2022, initially under the name Bifinity.

Binance Connect was also supposed to be the home for the exchange’s NFT checkout solution, a feature that never materialized. 

NFT checkouts enable users to buy non-fungible tokens using a variety of different payment methods. For example, MoonPay has an NFT checkout that lets people pay with a credit card.

Initially, there was some confusion about when Binance was actually going to take Binance Connect down. Biswap, a decentralized exchange on the BNB Chain, tweeted out at 3:55 am ET Tuesday that Binance would be shutting down the website for the fiat on-ramp solution “at 01:00 PM UTC, August 15, 2023.”

This turned out to be incorrect — that time has since passed, and Binance Connect still appears to be operational as of 2:15 pm ET.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template (1).jpg

Research

As AI supercharges surveillance, privacy becomes a prerequisite and the winning stack will combine confidentiality with selective disclosure. Zcash’s Tachyon, composable standards on Ethereum/Solana, and compliance-aware pools aim to make private rails the new norm.

article-image

The deal gives Ondo Finance SEC-registered broker-dealer, ATS, and transfer agent licenses to operate regulated tokenized securities markets

by Blockworks /
article-image

Ethereum and Solana funds mark industry first as Grayscale adds staking to spot crypto products

by Blockworks /
article-image

US bitcoin ETFs that seen more than $2.2 billion of net inflows over the last four trading days

by Blockworks /
article-image

More than 75 million U.S. Galaxy owners gain integrated Coinbase One access through Samsung Wallet, with global rollout planned

by Blockworks /
article-image

The central bank signed agreements with firms for fraud, payments, and app services ahead of a potential launch

by Blockworks /
article-image

Experts agree that the shutdown will delay new crypto ETF approvals, but lawmakers seem keen to move ahead with legislative work