As Binance is shutting down its operations in the Netherlands, the exchange is offering Dutch customers the opportunity to transfer their digital assets to another Dutch crypto platform, Coinmerce for free until July 17th. This allows customers to safely move their assets to an alternative platform within the given timeframe without incurring any costs.
In an official statement by the exchange, Binance will exit from the Netherlands after a license setback. Binance partner with Coinmerce, which has been in operation since 2018 and is registered in 11 additional countries, thanks to its solid security features and extensive trading environment.
Nonetheless, Dutch crypto customers on the Binance market have the option of using alternative cryptocurrency exchanges. Furthermore, Binance’s suggestion of Coinmerce is optional for Dutch cryptocurrency dealers.
According to Nick Smits van Oyen, co-founder of Coinmerce “We are very proud of this partnership with Binance. We offer these users an equivalent platform that complies with all European laws and regulations. The transition will be smooth and, in consultation with Binance, we have made the transition for users as easy as possible. The user will receive an email from Binance and from there the simple step-by-step process will start.”
Binance Holdings was fined $3.3 million by the Dutch central bank in 2022 for providing crypto services without legal registration. At the time, the bank stated that the exchange had a “very large number of customers in the Netherlands.”
