Cryptocurrency exchange Binance fully exits the Russian market

Binance is selling its entire business in Russia to CommEX and is completely withdrawing from the market.

This was reported by the company's press service.

"To ensure a smooth process for existing Russian users, the off-boarding process will take up to one year. All assets of existing Russian users are safe and securely protected," the website of the company reports.

The company says that after exiting the market, it will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business.

It will be recalled that in April, Binance started accepting transfers from Russian bank cards through the local Qiwi payment system again after it stopped working on March 9, 2022.