SEPA
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**🚨 Breaking News: 💶 Binance enters a contract for euro-denominated payments and deposits/withdrawals with Single Euro Payments Area (SEPA) fiat partners, following the cessation of services by Paysafe, Binance's previous European payment partner. The identity of the new fiat partner remains undisclosed. 🌐💱 #BinanceSquare #SEPA #FiatPayments
Crypto exchange #Binance restores #euro services after new fiat partners
On October 19, Binance made an announcement regarding its agreements with fresh fiat partners for handling euro payments, deposits, and withdrawals. This decision comes in response to challenges related to regulations and losing the support of PaySafe in the European Union, prompting Binance to seek new banking partners.
Binance mentioned that they have already begun transitioning users to the services offered by several newly regulated and authorized fiat partners, though they didn't specify the names of these partner firms.
The announcement specified that the new partners are providing fiat services that encompass EUR deposits and withdrawals through Open Banking and SEPA/SEPA Instant.
Additionally, users are granted the ability to purchase and sell cryptocurrencies using #SEPA (Single Euro Payments Area), bank cards, and their fiat balances. They can also engage in trading EUR spot pairs.
Previously, in late September, Binance had advised its European users to convert their euros into #Tether by the end of October. However, this latest announcement implies that such a conversion may no longer be required.
On October 19, Binance made an announcement regarding its agreements with fresh fiat partners for handling euro payments, deposits, and withdrawals. This decision comes in response to challenges related to regulations and losing the support of PaySafe in the European Union, prompting Binance to seek new banking partners.
Binance mentioned that they have already begun transitioning users to the services offered by several newly regulated and authorized fiat partners, though they didn't specify the names of these partner firms.
The announcement specified that the new partners are providing fiat services that encompass EUR deposits and withdrawals through Open Banking and SEPA/SEPA Instant.
Additionally, users are granted the ability to purchase and sell cryptocurrencies using #SEPA (Single Euro Payments Area), bank cards, and their fiat balances. They can also engage in trading EUR spot pairs.
Previously, in late September, Binance had advised its European users to convert their euros into #Tether by the end of October. However, this latest announcement implies that such a conversion may no longer be required.
