Binance Suspension of Ethiopian Birr Trading Triggers Backlash From Ethiopian P2P Users
Binance’s suspension of Ethiopian Birr (ETB) trading has triggered reactions from users across Ethiopia’s peer-to-peer trading ecosystem.
According to BitKE, many users expressed frustration online after Binance announced plans to discontinue ETB trading pairs and services on the platform from May 15th. The exchange cited “periodic reviews” of listed fiat currencies as part of the decision.
Several users reportedly relied on Binance P2P markets for access to foreign currency, remittances, and informal cross-border settlements.
Ethiopia’s Forex Restrictions Continue Driving P2P Activity
The backlash also reflects broader financial pressures within Ethiopia’s tightly controlled foreign exchange environment.
BitKE noted that Binance P2P had increasingly become integrated into parts of Ethiopia’s informal financial ecosystem due to ongoing currency shortages and restrictions around foreign exchange access.
The earlier suspension announcement in April had already triggered concerns among local traders who feared losing access to one of the region’s most active P2P channels.
Concerns Grow Around Financial Access
Users reacting online argued that the suspension could make international transactions and dollar access more difficult for freelancers, importers, and cross-border workers who depended on the platform.
The development highlights the growing role Bitcoin and P2P systems now play within several African economies facing currency instability and limited banking access.