Binance Reboots Its Euro Services

Binance has recently revealed its collaboration with new payment service providers to facilitate seamless euro transactions. This will offer European users a convenient and efficient means of converting fiat currency into cryptocurrency and the other way round.

According to the official announcement, Binance has successfully established partnerships with several providers offering a comprehensive array of services for euro deposits, withdrawals, and payments. Consequently, users can once again access the following services on the crypto exchange:

• EUR deposit and withdrawal via Open Banking and SEPA/SEPA Instant;
• buying and selling crypto via SEPA/SEPA Instant;
• buying and selling crypto with bank cards and fiat balances;
• EUR spot pairs for all users.

While Binance has chosen not to name its new providers, the exchange’s representatives emphasised the significance of these partnerships. They highlighted how these agreements would expedite and streamline the conversion of fiat to crypto, and back to fiat again. This is pivotal to the global adoption of cryptocurrencies, and these collaborations with new partners are set to simplify the process for millions of Binance users.

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Earlier, Paysafe terminated its partnership with Binance in response to heightened regulatory scrutiny within the European Union. Paysafe had been facilitating Binance’s access to SEPA.

Furthermore, Binance had to suspend the registration of new users in the United Kingdom due to the introduction of stricter regulations related to the promotion of digital assets.