- Binance, a leading crypto exchange, will shut down its Binance Connect service (previously Bifinity) after just one year of operation.

- The decision is part of Binance's effort to focus on core products and long-term goals.

- Binance's growth from an exchange to a global blockchain ecosystem with diverse business lines highlights its adaptability and responsiveness to changing market dynamics.

- Binance Connect, introduced in March 2022, aimed to help merchants embrace cryptocurrencies and accept payments in various digital currencies.

- The service supported 50 cryptocurrencies and major payment methods like Visa and Mastercard.