Binance invites Paysafe customers to convert euros into USDT

Following the loss of its European banking partner Paysafe, Binance suspend temporarily some serviceswhose trading from cryptocurrencies and deposits at euro.

This Thursday, Binance returned to the end of his alliance with Paysafe and set the course for its customers who relied on its European banking partner.

Paysafe users can convert EUR balances in their Binance accounts to USDT before 31/10/2023 at 0:00 (UTC). In the meantime, users can continue to withdraw their EUR balances from their Binance accounts to their bank accounts,” wrote Binance on its blog.

The number 1 in crypto-trading goes on to say that several services on its platform, including buying, selling and exchanging crypto-currencies in euros, are currently experiencing a “brief interruption”. Euro deposits via bank transfer are also unavailable.

Binance has also discontinued its Spot Trading Bots services on the EUR/USDT and EUR/BUSD pairs. Another feature, Binance Convert, is now subject to limitations. In addition, Auto-Invest EUR plans for Paysafe users have been suspended.

We are working to integrate new fiduciary channels on Binance in the near future, in line with our mission to provide a seamless crypto experience for all users,” concluded the CZ-led exchange.

Abolished in July 2021, SEPA transfers to a Binance account were making a comeback in early 2022 thanks to a partnership forged with the UK’s PaySafe. The latter has finally decided to terminate their relationship in June 2023.

Already cut off from the U.S. banking system, Binance is also experiencing difficulties in Europe. In addition to Paysafe, Checkout.com, another of its payment partners, also decided to stop working with the platform last month.

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