Paysafe
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#Binance Restores #EUR ⏠Services again :
The exchange said it has partnered with multiple payment providers in Europe.
Earlier, #Paysafe terminated its contract with the exchange.
Binance, the worldâs largest crypto exchange by trading volume, has restored euro (EUR) payments, deposits, and withdrawals after striking deals with new fiat partners.
At the end of September, the crypto exchange halted euro services. It urged its European user base to convert their EUR balances into $USDT before October 31 following a fallout with financial partner Paysafe.
On October 19, 2023
Binance announced the reopening of its EUR fiat channels, noting that the exchange had signed agreements with several ânew regulated and authorizedâ financial partners to provide fiat services to its community.
As Per the announcement, some users have already migrated to the restored services, which include EUR deposits and withdrawals via SEPA/SEPA Instant and Open Banking.
Always #DYOR before investing & trading in #Crypto
The exchange said it has partnered with multiple payment providers in Europe.
Earlier, #Paysafe terminated its contract with the exchange.
Binance, the worldâs largest crypto exchange by trading volume, has restored euro (EUR) payments, deposits, and withdrawals after striking deals with new fiat partners.
At the end of September, the crypto exchange halted euro services. It urged its European user base to convert their EUR balances into $USDT before October 31 following a fallout with financial partner Paysafe.
On October 19, 2023
Binance announced the reopening of its EUR fiat channels, noting that the exchange had signed agreements with several ânew regulated and authorizedâ financial partners to provide fiat services to its community.
As Per the announcement, some users have already migrated to the restored services, which include EUR deposits and withdrawals via SEPA/SEPA Instant and Open Banking.
Always #DYOR before investing & trading in #Crypto
Alchemy Pay announces a partnership with Paysafe
#AlchemyPay  partners with #Paysafe  (NYSE: PSFE), a leading payments platform. Through this partnership, Alchemy Pay will integrate Paysafeâs #Skrill , #NETELLER , and multiple local payment methods into its Fiat On-ramp offering, enhancing convenience and accessibility for global users, particularly across European markets.
Alchemy Pay is a payment solution provider that makes transactions between fiat and crypto for businesses, developers and users.
đ x.com/AlchemyPay/status/1816414077654294597
#AlchemyPay  partners with #Paysafe  (NYSE: PSFE), a leading payments platform. Through this partnership, Alchemy Pay will integrate Paysafeâs #Skrill , #NETELLER , and multiple local payment methods into its Fiat On-ramp offering, enhancing convenience and accessibility for global users, particularly across European markets.
Alchemy Pay is a payment solution provider that makes transactions between fiat and crypto for businesses, developers and users.
đ x.com/AlchemyPay/status/1816414077654294597
An incredible partnership that will change the way you manage your finances! Binance and CardB have joined forces to bring you the ultimate digital payment solution.Experience seamless cryptocurrency transactions with CardB.
What is CardB? With the card, you can convert cryptocurrency for purchases anywhere and easily top up your balance with Binance Pay.
The CardB virtual card can be added to Samsung Pay and Apple Pay.
#BinanceSquareTalks #Paysafe #CardB #Partnership #PartnershipPower
What is CardB? With the card, you can convert cryptocurrency for purchases anywhere and easily top up your balance with Binance Pay.
The CardB virtual card can be added to Samsung Pay and Apple Pay.
#BinanceSquareTalks #Paysafe #CardB #Partnership #PartnershipPower
#Binance âs euro services make a comeback after #Paysafe setback
Following the discontinuation of its fiat collaboration with Paysafe, Binance has formed new partnerships for euro transactions. Users have already begun migrating to these new services, as announced by the company on Thursday.
A spokesperson from Binance stated that they have onboarded partners such as TrueLayer, Nuvei, and several card acquirers. TrueLayer is a financial technology company that facilitates financial transactions through its open banking API platform, while Nuvei is a global payment technology company specializing in simplifying digital transactions worldwide.
These new partners offer services such as euro deposits and withdrawals through Open Banking and SEPA/SEPA Instant, as well as euro-to-cryptocurrency trading. They also support the purchase and sale of cryptocurrencies using bank cards and fiat balances.
Binance, founded by #ChangpengZhao in Shanghai in 2017, has become a major player in the cryptocurrency space but has faced increased scrutiny from regulators due to concerns about potential money laundering activities.
The separation between Paysafe and Binance began in May, leading to Binance suspending deposits and withdrawals in British pounds until they secured a new banking partner. In September, Paysafe stopped processing euro deposits for Binance as well.
These developments occurred while Binance was under investigation by US regulators and facing inquiries from authorities in multiple countries, including the UK, Japan, Italy, Singapore, the Netherlands, Canada, and Thailand.
Earlier in the year, Binance had announced its plans to reduce its operations in #Europe and focus on "fewer regulated entities," leading to its withdrawal from Germany, the Netherlands, and Cyprus due to licensing issues.
Following the discontinuation of its fiat collaboration with Paysafe, Binance has formed new partnerships for euro transactions. Users have already begun migrating to these new services, as announced by the company on Thursday.
A spokesperson from Binance stated that they have onboarded partners such as TrueLayer, Nuvei, and several card acquirers. TrueLayer is a financial technology company that facilitates financial transactions through its open banking API platform, while Nuvei is a global payment technology company specializing in simplifying digital transactions worldwide.
These new partners offer services such as euro deposits and withdrawals through Open Banking and SEPA/SEPA Instant, as well as euro-to-cryptocurrency trading. They also support the purchase and sale of cryptocurrencies using bank cards and fiat balances.
Binance, founded by #ChangpengZhao in Shanghai in 2017, has become a major player in the cryptocurrency space but has faced increased scrutiny from regulators due to concerns about potential money laundering activities.
The separation between Paysafe and Binance began in May, leading to Binance suspending deposits and withdrawals in British pounds until they secured a new banking partner. In September, Paysafe stopped processing euro deposits for Binance as well.
These developments occurred while Binance was under investigation by US regulators and facing inquiries from authorities in multiple countries, including the UK, Japan, Italy, Singapore, the Netherlands, Canada, and Thailand.
Earlier in the year, Binance had announced its plans to reduce its operations in #Europe and focus on "fewer regulated entities," leading to its withdrawal from Germany, the Netherlands, and Cyprus due to licensing issues.
Binance Urges EUR Balances Conversion to USDT
In a surprising turn of events, Paysafe Payment Solutions Limited (Paysafe) recently announced the unilateral cessation of EUR deposit processing for Binance users. This unexpected decision has forced Binance to issue a series of advisories, urging Paysafe users to take specific actions before the looming October 31, 2023 deadline.
Converting EUR to USDT: A Recommended Step
To mitigate potential disruptions caused by Paysafe's decision, Binance has advised its users to contemplate converting their EUR balances within their Binance accounts to Tether USD (USDT) before the October 31 deadline. This proactive approach can help safeguard your assets amidst the uncertainty.
Continued EUR Withdrawals
Despite the disruptions, Binance assures its users that they can continue withdrawing their EUR balances from their Binance accounts to their respective bank accounts. This ongoing service allows users to manage their finances without significant hindrance.
Immediate Impact on EUR Transactions
Paysafe's discontinuation of EUR-related services has already left its mark on Binance operations. Binance users can no longer deposit EUR into their accounts, and as of September 28, 04:00 (UTC), buying and selling cryptocurrencies with EUR have been discontinued. Additionally, trading activities involving EUR spot trading pairs are no longer accessible, with open orders on these pairs canceled from 05:00 (UTC).
Implications for Trading Bot Services
The ripple effect of Paysafe's decision extends to Binance's trading bot services. Binance has announced the cessation of Spot Trading Bot services specifically for EUR/USDT and EUR/BUSD trading pairs, impacting users who rely on automated trading strategies. This development necessitates a reassessment of trading strategies for affected individuals.
Auto-Invest EUR Plans on Pause
Paysafe's disruption also affects Binance users with Auto-Invest EUR plans, as these services will experience a temporary pause. It's essential for users in this category to stay informed about when their services are set to resume and to adjust their investment strategies accordingly during this period.
In Summary
The unexpected decision by Paysafe to cease processing EUR deposits for Binance users has sent shockwaves through the cryptocurrency community. As Binance takes measures to address the disruptions, affected users should stay vigilant, consider the recommended actions, and adapt their strategies to navigate this challenging period. Paysafe's move serves as a reminder of the ever-evolving landscape of the cryptocurrency industry, where adaptability and preparedness are key to success.
#Paysafe #Binance #cryptocurrency #EUR #USDT $USDC $EUR
Converting EUR to USDT: A Recommended Step
To mitigate potential disruptions caused by Paysafe's decision, Binance has advised its users to contemplate converting their EUR balances within their Binance accounts to Tether USD (USDT) before the October 31 deadline. This proactive approach can help safeguard your assets amidst the uncertainty.
Continued EUR Withdrawals
Despite the disruptions, Binance assures its users that they can continue withdrawing their EUR balances from their Binance accounts to their respective bank accounts. This ongoing service allows users to manage their finances without significant hindrance.
Immediate Impact on EUR Transactions
Paysafe's discontinuation of EUR-related services has already left its mark on Binance operations. Binance users can no longer deposit EUR into their accounts, and as of September 28, 04:00 (UTC), buying and selling cryptocurrencies with EUR have been discontinued. Additionally, trading activities involving EUR spot trading pairs are no longer accessible, with open orders on these pairs canceled from 05:00 (UTC).
Implications for Trading Bot Services
The ripple effect of Paysafe's decision extends to Binance's trading bot services. Binance has announced the cessation of Spot Trading Bot services specifically for EUR/USDT and EUR/BUSD trading pairs, impacting users who rely on automated trading strategies. This development necessitates a reassessment of trading strategies for affected individuals.
Auto-Invest EUR Plans on Pause
Paysafe's disruption also affects Binance users with Auto-Invest EUR plans, as these services will experience a temporary pause. It's essential for users in this category to stay informed about when their services are set to resume and to adjust their investment strategies accordingly during this period.
In Summary
The unexpected decision by Paysafe to cease processing EUR deposits for Binance users has sent shockwaves through the cryptocurrency community. As Binance takes measures to address the disruptions, affected users should stay vigilant, consider the recommended actions, and adapt their strategies to navigate this challenging period. Paysafe's move serves as a reminder of the ever-evolving landscape of the cryptocurrency industry, where adaptability and preparedness are key to success.
#Paysafe #Binance #cryptocurrency #EUR #USDT $USDC $EUR
