Binance to lose support of its euro banking partner
The cryptocurrency exchange Binance informed users that its current euro banking partner, Paysafe Payment Solutions, will not continue supporting the exchange.
According to emails issued to customers by Binance, euro support provided by Paysafe will end after Sept. 25, 2023. It said it would be switching to a new service provider for euro deposits and withdrawals via SEPA bank transfer, though it didn’t name which provider that would be.
Binance will change provider of EUR deposits and withdrawals via Bank Transfer (SEPA)#Binance #sepa #eur #paysafe pic.twitter.com/EzCt9eEpcL
A Binance spokesperson told Cointelegraph what users should expect at the time of discontinued service:
Until then, Binance confirmed that all the current methods of depositing and withdrawing other fiat currencies, and buying and selling crypto on Binance.com “remain unaffected.”
Binance also reiterated to Cointelegraph that this latest announcement regarding euro payments is “not related” to the exchange’s recent departure from multiple countries within the European Union.
Related: Binance reverses decision to delist privacy coins in Europe
In recent months Binance has been facing waves of backlash from regulators around the world, leading to a cessation of operations in various countries.
On June 16, the exchange announced its departure from the Netherlands, saying that from July 17 onward, Dutch customers would only be allowed to withdraw funds.
Less than a week later, officials in Belgium also ordered the exchange to halt all services.
Additionally, the director of Binance Brazil was ordered to appear before the Brazilian parliament as a part of ongoing investigations into alleged pyramid schemes within the country.
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