Binance has announced that Bifinity UAB will cease offering certain fiat payment services on December 31 due to regulatory changes. Other regulated providers will continue these services without interruption.
According to Binance, crypto exchanges typically rely on specialized third-party payment firms and banking partners to support fiat on-ramps and off-ramps. Regulatory or legal changes affecting a provider can necessitate operational handoffs even when the trading venue remains unchanged. The change is driven by laws and regulations applicable to Bifinity UAB, and Binance framed the update as a provider transition rather than a change in user interaction with Binance’s core platform or access to crypto markets.
The service-provider switch takes effect on December 31 and affects certain fiat payment methods previously provided by Bifinity UAB. Users will still be able to deposit, withdraw, buy, or sell crypto using available payment options without interruption. Binance also said that the Terms of Use between users and Bifinity UAB will terminate on the same date and directed users to a dedicated FAQ outlining the replacement regulated providers and the scope of impacted payment rails.
Binance’s transition plan directs European Economic Area (EEA) users to UAB ZEN.COM as a replacement fiat-services provider. The Bank of Lithuania lists ZEN.COM with authorization code LB000457 and an electronic money institution license valid from May 24, 2018. The Bank of Lithuania entry also provides the firm’s company code 304749651 and Legal Entity Identifier (LEI) 894500A5TTTCZE08L223, offering concrete identifiers for market participants to confirm regulatory status during a payment-provider migration.
Founded in 2017, Binance is a global cryptocurrency exchange company offering spot trading, derivatives, and various ancillary services including fiat on-ramps/off-ramps. Public profiles describe Binance as operating internationally with a distributed corporate footprint, often noting it does not maintain a single official headquarters location while remaining one of the most widely used crypto venues by trading activity.
