Binance had previously unilaterally suspended its payment partner Paysafe, forcing users to have their Euro deposit and withdrawal services blocked. However, Binance also found a new partner bank in less than a month and resumed related services for European users.

Binance resumes Euro deposit, withdrawal, and trading services

According to Binance’s announcement on October 19, Binance has found a new partner and will resume Euro deposits, withdrawals and transactions.

Binance will restore/add the following services:

  • Euro deposits and withdrawals via Open Banking and SEPA/SEPA Instant

  • Bank card to buy and sell cryptocurrencies

  • Buy and sell cryptocurrencies with fiat currency

  • Euro spot trading pairs

The so-called SEPA (Single Euro Payments Area) includes 36 countries within the EU that support cashless euro payments.

Binance partner Paysafe suspends services one after another

Binance’s payment partner Paysafe once again unilaterally suspended Binance’s euro deposit and withdrawal services on September 28, following the suspension of pound deposits and withdrawals in March this year.

However, Binance also urgently restored related services to European users in less than a month.

In fact, Binance faced a large number of regulatory issues in the first three quarters of this year, especially when facing European countries:

  • UK: Binance UK has canceled its registration with the Financial Conduct Authority (FCA)

  • Netherlands: Binance announced that it will withdraw from the Dutch market and will only provide withdrawal services after mid-July.

  • Germany: In June, the company was refused registration in Germany. A Binance spokesperson confirmed that it had voluntarily withdrawn its application for a German license.

  • Austria: Austrian license application has been cancelled, and will return to the EU following the MiCA framework

  • French investigation: foreign media revealed that Binance France was investigated by the authorities for money laundering, Changpeng Zhao refuted it

However, some Binance subsidiaries have re-launched their services after quickly adjusting their operations, such as Belgium:

(Binance announced the resumption of Belgian services and open registration)

This article Binance resumes Euro deposit, withdrawal and trading services and lists Euro spot trading pairs first appeared on Chain News ABMedia.