Binance recently announced that in order to solve the obstacles to payment in Europe, it has signed an agreement with a new fiat currency partner to provide euro services to users on the European continent.。

Binance New Euro Payments Partner

Although the exchange said it had signed agreements with "new legally authorized fiat partners," it did not provide any names.。

Binance said in a statement: "The ability to easily convert fiat currency to cryptocurrency and back to fiat currency is a key part of driving global digital asset adoption.。"

"Without an easy way to buy or sell cryptocurrencies, users new to the space may find the process of buying and selling cryptocurrencies too complicated."。Its fiat services provide basic ease of use for all participants in the cryptocurrency ecosystem.。"

Resumption of euro services

The partnership came after Binance lost its European payments partner Paysafe.。

In May last year, the cryptocurrency exchange took advantage of Paysafe's service to process withdrawals and deposits in euros and pounds.。However, Paysafe first stopped offering sterling payments services in May last year and decided to end trading with cryptocurrency exchanges next month after a "strategic review."。

Paysafe ends all support for Binance on September 25。However, there are reports that the payment provider blocked many payments by cryptocurrency exchange users even before its service was completely terminated.。

With the resumption of fiat currency payment services, Binance clarified that its European users can once again deposit and withdraw euros through an open banking app and SEPA, and it will also continue to offer euro spot cryptocurrency pairs to users in continental Europe.。

Binance added: "Having the 'ingress" and' egress "of fiat currency is key to a good user experience and gives new users and cryptocurrency natives access to the Web3 ecosystem.。"

In the US, Binance also faces trouble based on statutory services。Last June, the local branch of the exchange stopped all dollar-based services and became a cryptocurrency-only exchange.。However, it later partnered with a fiat currency import service provider in the United States.。