Binance plans to discontinue several Ukrainian hryvnia services, changing how local users move between fiat currency and digital assets. The exchange will stop UAH deposits and withdrawals through Fiat Trade UAH on September 28. It will also remove the USDT/UAH spot trading pair from its platform. The changes will take effect at 09:00 UTC+2 on September 28.
Users should review their UAH holdings and trading orders before the deadline. Binance will automatically cancel all open orders on the affected trading pair. Additionally, eligible UAH balances will convert into USDT by September 30 at 18:00 UTC+2.
Automatic Conversion Sets Fixed Rate
Binance will use a fixed rate of 1 USDT for every 46.5 UAH during the conversion process. Hence, users who keep eligible balances will not need to take additional steps.
However, the move removes a direct fiat gateway for Ukrainian customers. Consequently, users may need alternative methods for moving local currency into crypto.
Binance Faces Broader European Changes
Ukraine remains an important market for Binance, with millions of users accessing its services. Moreover, the exchange recently expanded its Ukrainian communication channels through WhatsApp.
The latest move also comes amid wider regulatory changes across Europe. The European Union’s MiCA framework took effect on July 1. Consequently, exchanges without required licenses faced restrictions across European markets.
Related: Bitcoin Records $2.52B Exchange Outflows in Three Days, Led by Binance
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