The P2P proposal came after the Central Bank of Ukraine temporarily abolished the use of hryvnia.
Ukraine has temporarily suspended the use of the national currency hryvnia via debit cards for fiat deposits and withdrawals on crypto exchanges. However, users are looking for a new solution.
P2P Advice in Ukraine from Binance
After Ukraine suspended deposits and withdrawals on crypto exchanges with its local currency, the hryvnia, a P2P proposal came from Binance.
After the temporary suspension of the Ukrainian central bank, crypto exchanges such as Binance and Kuna made official statements informing investors about this issue.
The move immediately affected the way investors move funds to and from exchanges, while Binance reminded users how peer-to-peer (P2P) services are.
Alongside Binance, Michael Chobanian, founder of local crypto exchange Kuna, acknowledged the service outage. But he said he will explain the nuances of the development later.
The crypto exchange used it to inform users that its P2P services allow users to exchange crypto and fiat currencies directly with other users without the need for an intermediary like banks.
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