Binance suspends withdrawals in reais and ends partnership with Pix operator

Binance announced this Friday afternoon (17) the end of a one-year and eight-month partnership with Capitual, a fintech that operated deposits and withdrawals in reais via Pix for cryptocurrency exchange customers.

The measure comes amid the blocking of withdrawals and deposits in Brazilian currency on the exchange. In tests conducted by InfoMoney CoinDesk at 5:58 pm, the functionality remained unavailable on the platform, and displayed the message “channel under maintenance”.

In a note, Binance says the partner exchange will “guarantee customer withdrawals” as the company takes legal action against Capitual and conducts the acquisition of local exchange Sim;paul, announced in March.

Through customer service, Binance informs that it can take up to 72 hours for withdrawals and deposits via Pix to settle – methods such as TED and DOC are not available. However, the company says it will transition to a new partner “with extensive experience” only “in the next few weeks”. The provider name has not yet been announced.

The exchange claims that users can obtain withdrawals through the P2P system, which implies trading with another person, who in turn must deposit the amount in reais into the bank account.

Also according to the statement, users can still make withdrawals in the “sell to card” option available for Visa cards, but the feature also does not appear accessible to users.

The report contacted a representative from Capitual for a request for comment, but received no response as of press time.

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