The team of crypto exchange/futures platform AAX, announced today that in light of recent developments, AAX will be suspending its fiat deposit and withdrawal service by direct bank transfer.
Fiat deposit requests will be disabled from June, 2nd 2021; while fiat withdrawal requests and crypto-to-fiat conversion will no longer be possible from June, 7th, 2021.
For users looking to purchase crypto with local currencies, the AAX P2P trading or Fast Buy function remain available. Fast Buy partners include Coinify, EPay, and itez.
“It has been a great pleasure to provide you with the most convenient fiat deposit and withdrawal service for the past 6 months. AAX reached 2 million USD daily deposit in April and 3 million USD daily deposit in May so far. Crypto is part of the modern financial world and AAX remains committed to provide users with high-quality on and off-ramps. We fully expect to reinstate fiat deposit and withdrawal services no later than the end of August. Crypto deposits and withdrawals, as well as P2P fiat-to-crypto trading, remain unaffected.”
– The AAX Team
Note the timeline for the suspension arrangements:
- June 2, 10:00 am (UTC): Disable Fiat Deposit.
- June 7, 10:00 am (UTC): Disable Fiat Withdrawal.
- June 7, 10:00 am (UTC): Disable Crypto-To-Fiat Conversion.