Origins and positioning
CommEX emerged in September 2023 after Binance exited Russia, selling its local operations to this new platform. It was built to serve CIS and Asian markets, positioning itself as a global exchange with branding and design similar to Binance. The exchange launched with P2P trading, followed by plans for spot and futures markets.
Rollout and structure
CommEX began with a web interface and later promised a mobile app. Around 25 trading pairs were listed, including BTC, ETH, USDT, XRP, and DOGE. Withdrawals up to 2 BTC per day required no KYC, but access was blocked in regulated regions such as the U.S., EU, Singapore, Cyprus, and Iran. Officially, Binance denied ownership links, though shared branding and staff crossover raised doubts.
Abrupt shutdown
The exchange quickly unraveled. New registrations and asset transfers stopped on March 25, 2024. Futures were phased out, P2P halted in April, and the platform went offline entirely on May 10. After closure, user balances faced a 1% asset management fee, with all non-stablecoin assets forcibly converted to USDT.
Strengths & weaknesses
| Strengths | Weaknesses |
|---|---|
|
|
Final word
CommEX appeared as a fast replacement for Binance in Russia and CIS, with a bold promise of continuity and robust trading tools. Yet its run lasted less than a year. Lacking transparency and resilience, it collapsed quickly, leaving users with a brief but costly experiment. Today, CommEX is remembered as a fleeting successor that never secured long-term trust or stability.