Binance to lose its British pound on- and off-ramp provider in 9 weeks

Binance, the largest cryptocurrency exchange in the world, is about to lose its British Pound (GBP) on- and off-ramp provider in nine weeks. This comes as the latest in a long line of setbacks for the crypto exchange czar.

It has been reported that the cryptocurrency trading platform is to lose its existing British Pound on- and off-ramp provider, London based NTrust, in just nine weeks.

NTrust has been providing GBP deposits and withdrawals for Binance users in the United Kingdom since 2018. The company’s website states that it offers nation-specific money transfer services, allowing customers to buy, sell, and pay with fiat currencies in a secure, trusted, and compliant way.

This news will come as a disappointment to users within the United Kingdom, as it means that they will no longer be able to directly deposit and withdraw their GBP-denominated funds to and from their Binance accounts.

It is likely that Binance will seek out a new provider to satisfy its British consumer base, though the time frame remains to be seen.

Binance has also had problems with its banking partner for United States dollar transfers over the last few months

In addition to the issues that Binance faces with its British Pound on- and off-ramp provider, the crypto exchange giant has also had problems with its banking partner for United States dollar transfers over the last few months.

Back in March, Binance announced that it would be suspending its US Dollar deposits, citing the heightening regulatory environment and technical issues with their banking partner.

The exchange giant is one of the largest in the world, and any issues with its banking partners could have a large impact on its operations and user base.

For now though, the only issue that Binance faces is the loss of its British Pound provider, and it remains to be seen how it will address this issue.