Binance Says It Has Onboarded New Euro Fiat Partners for Deposits, Withdrawals

Paysafe, the crypto exchange's former service provider for euro transfers, ended support last month.

AccessTimeIconOct 19, 2023 at 8:17 p.m. UTC
Updated Oct 19, 2023 at 8:38 p.m. UTC

Crypto exchange Binance on Thursday informed users that it has onboarded new fiat service providers for euro (EUR) payments, deposits and withdrawals.

The company has signed agreements with "a number of new regulated and authorized fiat partners" to provide EUR services for its users in Europe, according to a Binance blog post. Services include EUR deposits and withdrawals via the Single Euro Payments Area (SEPA) payment network, EUR spot trading pairs and buying and selling digital assets via SEPA, bank cards or fiat balances, according to the post.

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  • Binance email to customers about new EUR fiat service providers (CoinDesk)
    Binance email to customers about new EUR fiat service providers (CoinDesk)

    The announcement came after Paysafe, the exchange's former euro service provider, halted servicing Binance users in September. Some Binance users in Europe complained last month about being unable to withdraw euros from the exchange before Paysafe's deadline.

    The company did not name the new service providers in the email or in the blog post. Binance spokespersons didn't reply immediately to a request for comment.

    Binance, the world's largest crypto exchange by trading volume, is facing regulatory pressure and lawsuits in various jurisdictions and several executives have exited the company and its affiliates this year.

    The latest departure was the chief executive of Bifinity UAB, a Binance subsidiary for fiat payments registered in Lithuania, who stepped down Thursday, Bloomberg reported .

    UPDATE (Oct. 19, 20:33 UTC): Adds departure of Bifinity UAB's CEO.

    Edited by Stephen Alpher.

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    Krisztian  Sandor

    Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.