Binance to Switch Secondary Payments Provider Following Implementation of Central Bank-Issued Direct
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The cryptocurrency company noted that this move was necessary to fix future problems and secure its operations in Brazil. The crypto exchange explained:
“[Binance] will promote a smooth transition in the coming weeks and that it is taking all necessary steps, including legal related to Capitual, to ensure that users are not adversely affected by the change.”
The crypto exchange further noted that the South American nation was “an extremely relevant market for the company,” adding that it remains focused on growing its services in the country.
Capitual, Binance’s previous secondary payments provider, explained that the halt in service had to do with the implementation of a new requirement from the Central Bank of Brazil. The bank noted it recently updated its technological platform and requested that partners adapt their platforms to the new changes. The company noted in a statement:
“The partner exchanges Kucoin and Huobi have adapted their systems to the changes that have taken place on the Capitual platform, and the services provided to their users in transactions with reais happen regularly.”
Capitual noted that Binance was the only partner to refuse to adapt to the mandatory change, asserting that the requirements could not be disobeyed.
Key Binance Coin Levels to Watch — June 20
Binance Coin (BNB) has posted a mild bullish bounce over the past 24 hours as the cryptocurrency approaches the $220 mark. This came as the broader crypto market eased out of an aggressive bearish momentum over the weekend.
However, BNB has entered overbought conditions on the 4-hour stochastic indicator forecasting correction to the $200 – $180 price range over the coming days. That said, I expect a bullish continuation towards $230, where a rejection should occur, triggering the drop to the range mentioned above.
Meanwhile, my resistance levels are $230, $260, and $280, and my support levels are $200, $180, and $160.
Total Market Capitalization: $911.4 billion
Binance Coin Market Capitalization: $35.4 billion
Binance Coin Dominance: 3.88%
Market Rank: #5
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