In the aftermath of parting ways with Paysafe, Binance has formed alliances with new fiat partners to facilitate Euro transactions.
Binance’s collaboration with these regulated and authorized providers aims to offer a variety of fiat services to its users.
“We have signed agreements with a number of new regulated and authorized fiat partners to provide a variety of fiat services to our community. Users have already started being migrated to the new services,” Binance stated in a recent press release.
Services derived from these affiliations will encompass EUR transactions through Open Banking and SEPA/SEPA instant, crypto trades with bank cards and fiat balances, and the purchase and sale of crypto with SEPA/SEPA Instant.
According to Binance, these services are pivotal for promoting the adoption of digital assets worldwide. “Without an easy way to buy or sell crypto, users who are new to the space can find the process of buying or selling crypto unintuitive and intimidating.”
The initiation of these partnerships follows another significant setback for Binance over the summer when German financial regulator BaFin denied their custody license application.
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