Binance is set to terminate its partnership with Advcash, a payment provider, which will result in the discontinuation of ruble-based transactions. This decision aligns with Binance's strategy to withdraw from the Russian market. The collaboration between Binance and Advcash began in 2019, enabling Binance users to deposit and withdraw rubles, facilitating transactions for Russian traders. Advcash allowed customers to transfer funds from sanctioned Russian banks to Binance through independent exchange providers. Although Advcash has not received any official communication from Binance regarding the termination, this move reflects Binance's overall operational shift in Russia. In September, Binance announced the sale of its Russian operations to CommEX, emphasizing its commitment to comply with global regulatory standards. Binance's Chief Compliance Officer stated that operating in Russia is not compatible with Binance's compliance strategy. By ending the ruble payment partnership, Binance further demonstrates its dedication to a compliance-driven business approach.
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