Binance Shuts Down Centralized NFT Service, Users Given One Month to Withdraw Assets

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• Binance will discontinue its centralized NFT service on July 3, 2026.
• Users must withdraw transferable NFTs before 23:59 UTC on July 3 or lose access.
• Non-transferable NFTs, including Binance Academy certificates, will become inaccessible.
• Binance is offering withdrawal fee reimbursements for eligible NFT holders.
• The move comes amid a prolonged decline in NFT trading volumes across the industry.
• Binance is simultaneously expanding into tokenized U.S. stock and ETF trading.

Binance announced that it will discontinue its centralized non-fungible token (NFT) service effective July 3, 2026, requiring users to withdraw eligible NFT assets before the deadline or risk losing access to them on the exchange platform.

“Withdraw your NFTs to Binance Wallet (or another compatible wallet) by July 3, 2026,” the Binance team said.

The cryptocurrency exchange confirmed the change on Wednesday, describing the move as an “upgrade” to its NFT services. According to the announcement, transferable NFTs must be withdrawn to Binance Wallet or another compatible external wallet by 23:59 UTC on July 3, 2026. Assets that remain on the Binance Exchange platform after that time will no longer be accessible.

The decision marks another step in Binance’s gradual retreat from the NFT sector, which has experienced a significant contraction in trading activity since its peak in 2022.

Withdrawal Process and User Compensation

Binance said that non-transferable NFTs, including course completion certificates issued through Binance Academy, cannot be withdrawn. These assets will also become inaccessible once the NFT service is discontinued.

To address the impact on affected users, Binance Academy plans to provide PDF versions of course completion certificates as replacements for the NFT-based credentials.

The exchange is also introducing temporary reimbursement programs to encourage users to move their NFT holdings before the deadline.

Users who transfer eligible non-CR7 NFTs from Binance Exchange to Binance Wallet through either BNB Smart Chain or Ethereum between June 3 and June 17 will qualify for a reimbursement of 1 USDC. Binance stated that up to 100,000 users will receive the credit, which is intended to cover the approximate cost of a single on-chain withdrawal transaction. Eligible rewards are expected to be distributed by July 3.

Holders of CR7 NFTs are covered under a separate reimbursement program. Binance said withdrawal fees for CR7 NFTs transferred on BNB Smart Chain before 23:59 UTC on July 3 will be refunded, with compensation scheduled for distribution by July 19.

Binance Expands Beyond Crypto as NFT Market Contracts

The NFT shutdown comes as Binance broadens its focus beyond digital collectibles and into tokenized traditional financial assets.

Earlier this week, the company announced plans to offer trading access to more than 7,000 U.S. stocks and exchange-traded funds (ETFs) for eligible customers outside the United States. The platform said users will be able to purchase fractional shares starting from $5 with zero commissions.

According to Binance, supported payment options will include USDC, USDT, BNB, and selected cryptocurrencies. The company also plans to introduce tokenized stock conversion capabilities, allowing traditional equity positions to be represented as blockchain-based assets. The latest expansion reflects growing industry interest in tokenized equities, with financial institutions and exchanges increasingly exploring blockchain-based representations of traditional securities.

Recently, Binance expanded its alternative trading offerings by launching its first Pre-IPO perpetual futures contract linked to SpaceX’s anticipated public market valuation. The product allows eligible users to trade on expectations surrounding SpaceX’s potential IPO before any public listing occurs, reflecting Binance’s broader push into blockchain-based financial products beyond traditional cryptocurrency trading.

Binance NFT Exit Follows Broader Market Decline

Binance’s NFT exit reflects broader market conditions. The company has gradually reduced support for NFT-related products over the past several years. In September 2023, Binance removed support for the Polygon network from its NFT marketplace. In April 2024, it also ended support for Bitcoin Ordinals.

Industry-wide NFT activity has continued to decline from previous highs. Data from CryptoSlam shows total annualized NFT trading volume reached approximately $5.5 billion in 2025, compared with more than $50 billion during the market’s 2022 peak.

Trading activity weakened further toward the end of 2025. Fourth-quarter NFT volume totaled approximately $1.25 billion, representing a 28% decline from the previous quarter, while December generated about $303 million in volume. During the same period, several major NFT platforms, including Nifty Gateway, Kraken NFT, and X2Y2, announced shutdowns or exits from the sector.

Binance’s July 3 deadline places affected NFT holders on a fixed timeline to secure their assets, while the company continues to redirect resources toward broader blockchain-based financial services, including tokenized equities and digital asset infrastructure.

Source: Binance