Binance Connect, previously known as Bifinity when introduced on 7 March 2022, will reportedly discontinue its services on 16 August. This decision comes as a result of its payment service provider withdrawing support for card payments. Originally launched to bridge the gap between traditional finance and the crypto world, the platform allowed fiat-to-crypto exchanges that supported 50 cryptocurrencies and major credit cards such as Visa and Mastercard. The news follows Binance Australia’s suspension of fiat services in the same month due to a third-party issue.