Binance crypto exchange will no longer support hryvnia: what fund holders need to know
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Cryptocurrency exchange Binance has announced changes for users in Ukraine. Starting September 28, the platform will stop accepting and withdrawing hryvnia through the Fiat Trade UAH service, and will also remove the USDT/UAH pair from spot trading.
The exchange reported this on its website.
The new rules will go into effect on September 28 at 09:00 UTC+2 (10:00 Kyiv time). After that, transactions in UAH via Fiat Trade UAH will become unavailable, and trading of USDT for hryvnia via the corresponding spot pair will cease.
All open orders for the USDT/UAH pair will be automatically canceled by the system after the end of trading. The exchange recommends that users independently manage their hryvnia balances and check active orders by the specified time.
What will happen to the hryvnia in the accounts?
Binance has also provided for automatic exchange of UAH balances. Funds subject to conversion will be transferred to the USDT stablecoin by 18:00 on September 30, 2026 .
The exchange will take place at a fixed rate of 1 USDT = 46.5 UAH . That is, for example, a balance of 4650 UAH will be converted into 100 USDT.
Users who agree to automatic conversion do not need to do anything additional.
At the same time, the announcement concerns transactions via Fiat Trade UAH and the spot pair USDT/UAH. Binance did not announce a complete suspension of its services for Ukrainian users.
The exchange also notes that for clients from Ukraine, there are other options for working with funds. In particular, we are talking about replenishing the account in US dollars using bank cards. The availability of individual payment methods may depend on the region and the terms of a specific service.
Why Binance is stopping working with hryvnia
In the official announcement, the exchange did not state the reason why it decided to close Fiat Trade UAH and the USDT/UAH pair.
Therefore, claims about regulatory pressure, restrictions from the National Bank of Ukraine, problems with bank transfers, or optimization of legal risks should not be presented as an officially confirmed explanation from Binance.
For Ukrainian users, the main change is that after September 28, they will not be able to use Fiat Trade UAH to deposit and withdraw hryvnia, as well as trade USDT via the USDT/UAH spot pair.
At the same time, Binance did not announce the cessation of operations in Ukraine as a whole. Other exchange services available to Ukrainian users continue to operate in accordance with their terms.
It was previously reported that from January 31, 2024, the largest crypto exchange Binance stopped supporting transactions with the Russian ruble.
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