Binance courts new euro partners

Binance, the world’s largest cryptocurrency exchange, has recently signed agreements with new fiat partners to expand its Euro payment, deposit, and withdrawal services. These agreements will allow Binance to offer a range of fiat services to its users. While the specific names of the new partners were not mentioned in the blog post, Binance has disclosed that these services will include:

1. Euro deposits and withdrawals facilitated through the Single Euro Payments Area (SEPA) network.
2. Euro spot trading pairs, enabling users to trade cryptocurrencies against the Euro.
3. Buying and selling cryptocurrencies using SEPA transfers, bank cards, and fiat balances.

Binance has also revealed that it is collaborating with various partners across Europe, including TrueLayer, Nuvei, and “a number of card acquirers,” engaging a diverse set of financial service providers to enhance its fiat-related offerings.

It’s worth noting that Binance’s former euro banking partner, Paysafe Payment Solutions, stopped supporting the exchange on September 25, which may have prompted the need for new partnerships to maintain Euro-related services.

Binance has been dealing with regulatory challenges in various jurisdictions, including the United States, where it has faced legal actions from regulatory authorities such as the Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC). These regulatory issues have led Binance to adjust its services and compliance efforts in different regions.