cyrpto Binance, cash, crypto, inperson, P2P, report, shuts, trades, Zone Mark March 5, 2025 0 Comments

Binance shuts down P2P Cash Zone for in-person crypto trades: report

Binance would have informed users of the P2P cashp area of the service closure, advising them to go to online payment methods for the Peer-to-Peer trading.

Cryptocurrency exchange Binance is supposed to stop its P2P Cash Zone functionality on March 31, ending a service that allowed users to exchange the crypto for money via recorded merchants.

In multiple publications On X, users from different regions have shared binance notifications indicating that the exchange has made the decision to complete the functionality to focus on “focusing on our basic services and continuing to develop innovative solutions”.

Binance announced the closure of its P2P cash area. This means that users can no longer travel the advertisements of cash dealers, then visit the store in person to finish the transaction. This does not affect other P2P trading services. pic.twitter.com/lo7anhupfh

– Tech in Twi (@Tech_twi) March 3, 2025

At the time of the press, Binance made no public announcements on the closure on his official channels. However, in an answer on X, his customer support team seemed confirm This decision, declaring that “the other P2P exchange services with local currencies work normally”.

Good morning! Thank you for contacting us. P2P continues to operate without drawbacks, most likely you have confused that the P2P treasury zone will not be available, this is where users could perform cryptocurrency transactions between peers using species. But the …

– Binance customer support (@binancehelpdesk) March 5, 2025

According to reports, users can place new orders until March 25, but no new transaction will be accepted after this date. The complete judgment is scheduled for March 31 at 23:59 UTC + 0.

Launched in 2023, the P2P treasury zone allowed users to exchange crypto for money via approved merchants with physical locations. In 2023 blogBinance has described functionality as a means for users to exchange their crypto for “more than 100 local currencies and to choose from more than 700 payment options”. The exchange had positioned it as an “appropriate option, in particular for users of non -banished regions or who have limited access to financial services”. We still don’t know why Binance decided to stop the service.