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Binance contemplates legal action following breakup with Checkout.com
Binance’s woes escalate as it mulls legal action against Checkout.com post-partnership termination as Visa’s alert on $10M fraudulent transactions after the partnership adds a layer of complexity.
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Binance Terminates Ties with Checkout.com and Evaluates Legal Recourse
Binance Connect ceased operations on Aug. 16 due to the termination of support by Checkout.com. On Aug. 18, Binance conveyed that they are contemplating legal measures against Checkout.com, their former payment collaborator. The root of the potential legal conflict lies in communications made by Checkout.com to Binance on Aug. 9 and Aug. 11. As per Forbes, Guillaume Pousaz, the head of Checkout.com, concluded their partnership with Binance, pointing to regulatory actions and concerns over compliance, Anti-Money Laundering, and sanctions. A Binance representative stated, “We don't concur with Checkout's reasons for ending the partnership, and we're reviewing potential legal avenues.” They emphasized that transaction services continue to be accessible on their platform. Yet, this termination led Binance to halt Binance Connect, a
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Checkout.com teams with NetEase Games on international game payments
Checkout.com, a global payment solution provider, has partnered with NetEase Games, the online games division of NetEase.Read More
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Checkout.com launches virtual and physical card issuing
Fintech startup Checkout.com is better known for its payment processing product. But the company is launching a new product today as Checkout.com customers can now create payment cards for their own customers. The company has been testing Checkout.com Issuing for a while as there are already millions of cards that have been created with the new service. Checkout.com supports physical cards as…
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