Greetings everyone!
Binance Connect is about to be shut down. The value of BNB (Binance Coin) has been decreasing steadily alongside the rise in negative funding rates.
Binance has decided to discontinue a service that aimed to bridge the gap between traditional financial institutions and cryptocurrencies. Given the lack of success in this endeavor, it raises the question of whether BNB's appeal might diminish given its current trajectory.
Introduced in 2022, Binance Connect aimed to make cryptocurrency payments easier for merchants. The platform supported 50 cryptocurrencies and major payment methods like Visa and Mastercard.
Additionally, Binance Connect was meant to be the exchange's solution for NFT checkouts, allowing users to buy non-fungible tokens using different payment methods.
