Direct Deposits From M-Pesa to Binance Suspended

M-Pesa to Binance

Users trying to deposit Fiat directly from M-Pesa to Binance for the last few days have been met with an error that reads “There was a problem processing this payment, please use a different payment method.”

Turns out, Binance has decided to close down the M-PESA funding option in Kenya, after a directive from its service providers.

Also Read: 10 Best PayPal Alternatives in Kenya

“We have temporarily closed our M-Pesa deposit options due to certain directives from our service provider.”

 – Binance

This abrupt suspension follows, a recent directive by the Central Bank of Nigeria (CBN) that banned all financial institutions and firms from dealing with cryptocurrency exchanges in Nigeria.

Kenyan users who want to trade on Binance now only have two options for purchasing crypto:

  • Visa / MasterCard
  • P2P

This new development shows just how much the CBN ban is affecting the crypto space in Africa even beyond Nigeria

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Nigel Jr.
As a tech enthusiast and expert, Nigel Jr. is dedicated to providing in-depth and insightful content on all things technology. With a background in online journalism, product reviewing, and tech creation, Nigel has become a trusted source for all things tech.

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