BINANCE RESUMES EURO TRANSACTIONS WITH NEW FIAT PARTNERS

Binance, the world's largest cryptocurrency exchange by trading volume, has announced that it has restored euro transactions on its platform, after signing agreements with new fiat partners. The move comes a month after Binance's previous euro banking partner, Paysafe, stopped working with the exchange due to regulatory concerns.

According to a blog post¹ by Binance, the new fiat partners are regulated and authorized to provide various fiat services to the exchange's users. These services include deposits and withdrawals in euros via Open Banking and SEPA/SEPA Instant, crypto trades with bank cards and fiat balances, and buying and selling crypto with SEPA/SEPA Instant. SEPA, or Single Euro Payments Area, is a payment system that covers 36 countries in the European Union.

Binance stated that the new partnerships aim to simplify the crypto transaction process for new entrants in the digital assets market, as well as to enhance the user experience and security. The exchange also said that users have already started being migrated to the new services, and that it will continue to update its fiat channels in the future.

Binance has been facing regulatory challenges and high-profile executive exits in Europe, as well as other regions, in recent months. The exchange has been trying to comply with local laws and regulations, as well as to improve its customer service and transparency. The open-sourcing of its layer-2 network Base is another example of Binance's efforts to support innovation and collaboration in the crypto space. #Binance #crypto2023 #etf #xrp #bnbgreenfield $$XRP $BTC $USDC