It’s been just revealed that Signature Bank has told Binance it will no longer be handling SWIFT transactions for its customers below $100,000 next month in a bid to decrease its reliance on digital asset deposits. Check out the latest reports coming from Blockworks below.
Signature Bank Limit on SWIFT transactions with Binance
It’s been just reported that support for transactions below the threshold from its fiat trading partner would cease by Feb. 1, Binance said in a statement seen by Blockworks.
According to the same reports revealed by Blockworks, users will be unable to buy and sell crypto via their Signature bank account using the interbank messaging system following the limitation.
“Using one of the other fiat currencies supported by Binance, including euros, and Binance’s P2P marketplace will continue to operate as usual, Blockworks was told. Bloomberg first reported the news,” according to the notes.
A spokesperson for Binance told Blockworks the exchange was “actively working” to find an alternative solution. Fewer than about 0.1% of its average monthly users are currently being serviced by the bank, they said. Check out the original article in order to learn more details about all this.
Altcoin staking project built on Ethereum explodes in price
An altcoin staking project built on Ethereum (ETH) is exploding in value. This came right after a surprise listing on the world’s largest crypto exchange, Binance.
According to the latest report coming from the online publication the Daily Hodl, Binance abruptly announced listing Rocket Pool (RPL) on the exchange’s Innovation Zone. Just in case you didn’t know, this is a trading space dedicated to crypto assets more prone to price volatility.
“Rocket Pool is a decentralized Ethereum staking pool intended to lower capital and hardware needs to stake on ETH 2.0. The RPL token is used for governance and collateral,” the notes reveal.