Binance strikes deal to offer euro-denominated services

European Binance users gained the ability to deposit and withdraw funds in euros. This occurred afterdiscontinuation of the service in September by Paysafe, the bitcoin exchange’s former partner.

“We have signed agreements with a number of new regulated and authorised companies […]. Users have already started moving to the new services,” Binance said.

They include:

• transactions in euros through Open Banking and SEPA/SEPA Instant;
• cryptocurrency trades via card payments and fiat balances, as well as

SEPA/SEPA Instant;

• EUR spot pairs for all users.

On 28 September Binance urged Paysafe users to convert euros held on their balance into the stablecoin USDT by 31 October, stopping the purchase, sale and trading of this currency. The company also pledged at the same time to implement integration of new channels.

Back in August, the exchange closed the fiat-to-crypto platform Binance Connect (Bifinity).

The latter was launched in March 2022 in collaboration with Checkout.com, Paysafe and other partners.