Binance has signed new partners to facilitate euro payments for its European user base, after previous partner Fiat PaySafe pulled out last month amid regulatory concerns.
The world’s largest crypto exchange announced on October 19 statement that it had signed agreements with a number of “controlled and authorized fiat partners”. He did not name the companies.
“Users have already started to migrate to the new services,” it said.
Go Live Integrations
The new fiat partners will provide services that include facilitating deposit withdrawals via Open Banking and Single Euro Payments Area (SEPA), buying and selling crypto via SEPA/SEPA Instant, buying and selling crypto with bank cards and buying and selling cryptocurrencies with fiat balances, he said.
Binance users are still experiencing issues
Users are still experiencing issues despite the new arrangements with Ricardo Antunes tweeting that he tried to make a deposit without success. Other users have asked about fiat partners for the British pound in the UK
Wonderful news!! 💪. But I just tried to deposit and still not working
— Ricardo Antunes (@Antiunes) October 19, 2023
Need some GBP partners asap, card charges over deposit not the way
— chad cooke (@chadthechad1) October 19, 2023
Binance was announced on Monday that it had suspended access to its news platform users UK-based had no choice after ending a partnership with a third party to approve communications on its platform as required by the Financial Conduct Authority (FCA) under new rules introduced this month.
Paysafe stopped processing euro deposits for Binance customers last month, adding to a series of regulatory problems for Binance around the world. Binance has informed customers that they own euros to convert their holdings to Tether (USDT) until new arrangements are made.