Towards the end of September, Binance announced that it would be discontinuing its services for Paysafe, its partner in Europe. They informed Paysafe users that they should convert their EUR balances to USDT by the end of October, and as a result, Binance suspended EUR trading for Paysafe users.
Following their separation from Paysafe one month ago, Binance announced today that they have established strategic partnerships with new fiat providers to continue and expand Euro transactions. With these new collaborations, they stated their aim to facilitate various Euro currency-related transactions for users more easily and efficiently.
The services that the new partnerships will provide include:
Open Banking Services: These agreements encompass open banking services that enable users to easily access and manage their Euro accounts. This allows users to effectively manage their Euro assets.
SEPA/SEPA Instant Transactions: Binance supports Euro transactions through SEPA (Single Euro Payments Area) and SEPA Instant, allowing users to conduct Euro transfers quickly and securely. SEPA also facilitates cashless Euro payments in 36 European Union countries.
Crypto Buying and Selling with Bank Cards and Fiat Balances: Users will be able to purchase cryptocurrencies using bank cards or fiat balances.
Crypto Buying and Selling with SEPA/SEPA Instant: Users can engage in crypto buying and selling via SEPA or SEPA Instant. This also enables Binance users to conduct crypto trading more conveniently with Euro.