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Binance to lose support of its euro banking partner

The exchange said its current partner for euro banking deposits and withdrawals would no longer serve the company from September 2023.

The cryptocurrency exchange Binance informed users that its current euro banking partner, Paysafe Payment Solutions, will not continue supporting the exchange. 

According to emails issued to customers by Binance, euro support provided by Paysafe will end after Sept. 25, 2023. It said it would be switching to a new service provider for euro deposits and withdrawals via SEPA bank transfer, though it didn’t name which provider that would be.

A Binance spokesperson told Cointelegraph what users should expect at the time of discontinued service:

“Users will need to update the banking details used to deposit to their Binance accounts and may be required to accept new terms and conditions to continue using SEPA services after this date.”

Until then, Binance confirmed that all the current methods of depositing and withdrawing other fiat currencies, and buying and selling crypto on Binance.com “remain unaffected.”

Binance also reiterated to Cointelegraph that this latest announcement regarding euro payments is “not related” to the exchange’s recent departure from multiple countries within the European Union. 

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In recent months Binance has been facing waves of backlash from regulators around the world, leading to a cessation of operations in various countries. 

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