Checkout.com, a UK-based payments processor and one of Binance’s biggest payments partners, has reportedly ended its relationship with the crypto exchange giant. This comes in response to various regulatory actions against the company, and overall concerns over anti-money laundering (AML) compliance.
The termination, which took effect on August 17, was communicated to Binance by Checkout CEO Guillaume Pousaz, according to Forbes. Binance is considering legal action in response, and a spokesperson for the exchange said the decision will not impact its services.
The news follows Binance’s recent announcement to shut down its regulated buy-and-sell crypto arm Binance Connect, which supported crypto payments for businesses. Additionally, Europe’s leading payments provider, PaySafe, ended its partnership with Binance in June.
In March 2022, however, Binance unveiled its fiat-to-crypto payments provider, Bifinity. The company was launched in partnership with both PaySafe and Checkout.com.
