Bybit and Okx Cease Operations with Sanctioned Russian Banks

By Benito Cormi Aug 30, 202370Views

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Okx and Bybit, two popular crypto spot exchanges, have stopped processing transactions involving certain Russian banking institutions that are under Western sanctions. On Okx’s P2P platform, cards from Russia’s largest state-owned bank, Sberbank, as well as Alfa-Bank and Tinkoff, are no longer available as payment options. However, Russian users can still buy and sell coins for rubles through bank transfers using cards from other Russian banks or through alternative payment services. On Bybit’s P2P platform, Sberbank and Tinkoff are still listed as supported payment methods, but transactions using their bank cards are no longer possible. This news follows the actions of Binance, the world’s largest crypto exchange, which delisted sanctioned Russian banks from its payment methods. Okx also recently removed the option for Russian customers to make P2P transactions with the Russian ruble. This may impact trading preferences for Russian users.

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Benito Cormi

Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.