Binance, the world’s largest cryptocurrency exchange, said Signature Bank will only process user transactions over $100,000 as the bank reduces its exposure to digital asset markets.
“One of our fiduciary banking partners, Signature Bank, has indicated that it will no longer support any of its crypto exchange clients with buy and sell amounts below USD 100,000 effective February 1, 2023. This is the case for all of their crypto exchange clients. As a result, some individual users may not be able to use SWIFT bank transfers to buy or sell crypto with/for USD for amounts less than USD 100,000,” Binance said in a statement sent to Bloomberg News on Saturday. .