Binance’s euro services make a comeback after Paysafe setback

A Binance spokesperson said that the exchange has teamed up with partners like TrueLayer, Nuvei, and various card acquirers


Hamara/Shutterstock modified by Blockworks


Binance has partnered with new entities for euro transactions following the cessation of services by its former fiat collaborator, Paysafe.

Users have already started transitioning to the new services, the company announced on Thursday.

A Binance spokesperson said the exchange has brought on partners including TrueLayer, Nuvei and a number of card acquirers.

Truelayer is a fintech firm enabling financial transactions through its open banking API platform. Nuvei is a global payment tech company specializing in solutions to enhance and simplify digital transactions worldwide.

The new partners are providing services like depositing and withdrawing euros through Open Banking and SEPA/SEPA Instant, as well as trading euros for cryptocurrency, according to a statement.

They also support buying and selling crypto with bank cards and using fiat balances.

Founded by Changpeng Zhao in Shanghai in 2017, Binance has grown to be a prominent player in the crypto arena. But it has garnered considerable scrutiny from regulators, as authorities intensify efforts to combat alleged money laundering activities.

Paysafe started distancing itself from the exchange back in May this year. This move compelled Binance to suspend deposits and withdrawals in British pounds until a new banking partner was secured. By September, Paysafe stopped processing euro deposits as well.

This shift occurred while the exchange was under investigation by US regulators in addition to facing inquiries from authorities in the UK, Japan, Italy, Singapore, Netherlands, Canada and Thailand.

Earlier this year, Binance declared plans to reduce its activities in Europe, concentrating on “fewer regulated entities.” Consequently, the company withdrew from Germany, the Netherlands and Cyprus due to issues with licensing.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

MON - WED, MARCH 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience:  Attend expert-led panel discussions and fireside chats  Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts   Grow your network […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Frax report cover.jpg


Frax saw continued development in its frxETH liquid staking derivative and Fraxlend money market throughout 2023. Frax V3 introduces an RWA strategy to drive utility to the protocol's cornerstone product, the FRAX stablecoin.


Accredited and non-accredited investors worldwide will be able to purchase the Note starting Dec. 6 on US-regulated trading platform INX


Bitcoin’s next halving is less than five months away. History says they’re bullish but will this time be different?


Merger is set to allow the combined business to “flex between our different lines of business,” Hut 8 CEO says


Agency’s decision to start comment window earlier than expected could be bullish for spot bitcoin ETF approval in January, industry watchers say


Jump Crypto is the trading firm at the center of Terra-related market manipulation allegations


Funds tied to Coinbase co-founder Fred Ehrsam have made the most of the COIN rollercoaster