Payments Processor Checkout.com Ends Partnership with Binance
Published 1 minute earlier on The Block
– Checkout.com has stopped servicing Binance, according to a spokesperson from the crypto exchange.
– The partnership between the two companies ended on Aug. 16, with no impact on services.
– Forbes reported that Checkout.com cut ties with Binance due to regulatory actions, partner inquiries, and concerns over anti-money laundering measures.
– Binance disagrees with Checkout.com’s reasons for termination and is considering legal action.
– Checkout.com first partnered with Binance in March 2022 to launch Binance Connect, a fiat-to-crypto payments platform.
Hot Take
The end of the partnership between Checkout.com and Binance is another blow to the crypto exchange, which is already facing legal challenges from U.S. regulators. This development raises questions about Binance’s compliance controls and may further impact its reputation in the industry. It remains to be seen how this will affect Binance’s ability to provide seamless payment services to its users.
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