Binance Resumes Euro Payment Services
Binance teams up with new partners for euro payments after parting ways with PaySafe in September.
Binance, a big crypto exchange, recently found new partners to manage its euro payment services. This happened after they lost their previous partner, PaySafe, in September.
On Oct. 19, Binance shared news about teaming up with new partners to help with euro payments. This move came after regulatory and debanking problems in the European Union, where the firm was forced to look for new banking partners after it lost the support of its euro payment partner, PaySafe in September.
Though Binance is working with new authorized partners, they didn’t say who these partners are.
The new services will let users move euros easily, through methods like Open Banking and SEPA. People can also use euros to buy and sell crypto and even trade with it.
Recently, Binance told its European customers to change their euros to USDT by the end of October. But with this new news, maybe they won’t need to do that. Still, some users said they had trouble putting euros in their accounts. Others are wondering when they can use British pounds because Binance lost its partner for that in May.
A few days ago, on Oct. 16, Binance stopped new UK users from using its platform. This decision came after a partnership ended because of new UK rules by the Financial Conduct Authority (FCA). UK users still can't add British pounds to their Binance accounts.
