Binance soon to lose support of its Euro banking partner

Cointelegraph
Cointelegraph

29 Jun 2023 10:08 AM

Binance told Cointelegraph that at the time of discontinued service, users will need to take action to update banking details and may be required to accept new terms and conditions....

  • Binance, a cryptocurrency exchange, announced that its current euro banking partner, Paysafe Payment Solutions, will no longer support the exchange after September 25th.
  • Binance will switch to a new service provider for EUR deposits and withdrawals via SEPA bank transfer, but the provider's name was not disclosed.
  • The discontinuation of euro support by Paysafe will not affect other fiat currencies, crypto trading, or deposit/withdrawal methods on Binance.com.
  • This announcement is unrelated to Binance's recent departure from multiple EU countries due to regulatory issues.
  • Binance has faced regulatory backlash in various countries, leading to the cessation of operations in the Netherlands, Belgium, and disruptions in Australia.
  • Binance Dubai's general manager highlights the UAE's favorable regulatory environment for crypto businesses.

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You May Ask

When will Paysafe Payment Solutions stop supporting Binance's euro transactions?Which service provider will Binance switch to for EUR deposits and withdrawals?Will the discontinuation of euro support affect other fiat currencies on Binance.com?What are the recent regulatory issues faced by Binance in different countries?What is the stance of the UAE towards digital assets and crypto businesses?

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