Binance to Shut Down P2P Cash Zone
Date: 2025-03-05 Author: Henry Casey Categories: BUSINESS
The largest cryptocurrency exchange by trading volume, Binance, has announced that it will shut down its P2P Cash Zone service, a platform that allows users to exchange digital assets for cash. The service is scheduled to shut down on March 31, 2025.
The company explained this decision by its intention to focus on core products and services that meet the global needs of its users.
“Binance is shutting down P2P Cash Zone as part of its strategy to strengthen its core business and improve customer service,” the exchange said in an official statement.
According to the published notice, access to the platform will be disabled as early as March 25, 2025. However, all orders placed before this date will be processed as usual. After March 31, the ability to conduct transactions through P2P Cash Zone will be completely terminated.
Crypto market analysts believe that the closure of the service may negatively affect the platform's liquidity. This is due to the fact that users who prefer anonymous cash payments when buying and selling cryptocurrency may go to alternative platforms offering similar functionality.
