Binance KR to Close Operations

Update: The delisting of BKRW trading pairs has been brought forward to 2021/01/14 12:00 PM (UTC) as announced here. USDT/BKRW will remain listed until the end of January.

Fellow Binancians,

Binance KR will terminate its local exchange operations due to low usage and volume with limited trading pairs of BKRW, resulting in limited liquidity for its users. Following the closure of the exchange, the Binance KR team will reassess its market strategy based on the resources and experience gained from operating a local exchange.

Here is the closing schedule of Binance KR:

• Closure of BKRW charge-up and new registrations on Binance KR: 2020/12/24 4:00 AM UTC
• Closure of all trading services at Binance KR: 2021/01/08 4:00 AM UTC
• Hard Shutdown (anticipated): 2021/01/29 4:00 AM UTC
• Delisting of BKRW/BUSD Liquid Swap and BKRW trading pairs: 2021/01/29 4:00 AM UTC

After the hard shutdown, user accounts of Binance KR will be inaccessible.

Accordingly, Binance.com users who have BKRW, a token issued by Binance.KR with a price pegged to the Korean Won at 1:1 rate, have several choices to settle the BKRW assets on the Binance exchange:

• BKRW/BUSD liquid swap is supported. Therefore, users can swap the BKRW into BUSD (Binance USD stablecoin) at Binance Liquid Swap (BSwap).
• Users can trade at the BKRW fiat market. The trading pairs that are supported are BTC/BKRW, USDT/BKRW, XRP/BKRW, ETH/BKRW, AAVE/BKRW, BUSD/BKRW, ADA/BKRW, BNB /BKRW, DOT/BKRW, and LINK/BKRW.
• All of these should be done by 2021/01/29 4:00 AM UTC.

We apologize for any inconvenience. Our customer support team will be available throughout the offboarding process leading to the closure.

Thanks for your support!

Binance Team

2020/12/24
 

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