Cryptocurrency exchange Binance announced the connection of new payment service providers for transactions in euros.
According to a blog statement, the company has signed agreements with several partners who provide services for depositing, withdrawing funds and making payments in euros. The message says these services include:
- deposits and withdrawals through the Single Euro Payments Area (SEPA);
- buying and selling cryptocurrencies using SEPA;
- financial transactions using bank cards and fiat balances;
- spot trading pairs in euros.
Binance did not specify which service providers it would partner with. Exchange representatives spoke about the importance of the partnership, which is expected to provide quick and convenient conversion of fiat money into cryptocurrency and vice versa.
“Fiat payments are an important factor driving the adoption of cryptocurrencies around the world. Millions of Binance users have easy access to such payments,” the blog says.
The announcement comes after payment provider Paysafe stopped supporting the platform in September 2023. This counterparty provided the crypto exchange with access to the SEPA payment system in the EU.
