{"id":3878,"date":"2024-08-09T11:52:19","date_gmt":"2024-08-09T11:52:19","guid":{"rendered":"https:\/\/blockwind.news\/china\/2024\/08\/09\/binances-european-banking-partner-paysafe-to-withdraw-support\/"},"modified":"2026-01-07T17:09:01","modified_gmt":"2026-01-07T17:09:01","slug":"binances-european-banking-partner-paysafe-to-withdraw-support","status":"publish","type":"post","link":"https:\/\/blockwind.news\/china\/2024\/08\/09\/binances-european-banking-partner-paysafe-to-withdraw-support\/","title":{"rendered":"Binance&#8217;s European banking partner Paysafe to withdraw support"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">July 3, 2023<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By Sharan Kaur Phillora<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.paysafe.com\/\"><u>Paysafe Payment Solutions<\/u><\/a>, the European banking partner of <a href=\"https:\/\/www.googleadservices.com\/pagead\/aclk?sa=L&amp;ai=DChcSEwiWpY-ulOr_AhWZdisKHXTQCyAYABAAGgJzZg&amp;ohost=www.google.com&amp;cid=CAESbOD2DPOSw5oma9z4hm5Fs0PRCwhQQgOGyOb7zGS255rQaJ0grblsM7sGZzLZAcu6qBZjM0H62eYLFKEBY6fQddv6qwbbem1Q1INZhYZljP9jry3iTt7o4BANQ3ctQ7HW0tvXU_1-U0fE-qQEmg&amp;sig=AOD64_0XBDK6MXoQzQ0n7OOTu55D67rfkQ&amp;q&amp;adurl&amp;ved=2ahUKEwiBtYiulOr_AhUkXGwGHfnmBc4Q0Qx6BAgJEAE\"><u>Binance<\/u><\/a>, is set to withdraw support from September 25. This development will affect Binance&#8217;s Euro transactions in the <a href=\"https:\/\/www.gov.uk\/eu-eea\"><u>European Economic Area (EEA).<\/u><\/a>&nbsp;The termination of this service will be carried out in a phased manner over the next few months, with both companies working together to ensure a smooth transition.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Here\u2019s what we know:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In light of this development, Binance has announced a change in its banking partner for euro transactions via the <a href=\"#:~:text=Thanks%20to%20the%20Single%20Euro,way%2C%20just%20like%20national%20payments.\"><u>Single Euro Payments Area (SEPA)<\/u><\/a>. A spokesperson from Binance has confirmed this shift, without providing any additional details about the new partner. The spokesperson added, &#8220;Binance will provide more information in due course.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Despite the change in the banking partner, other methods of depositing and withdrawing fiat currencies as well as buying and selling crypto on Binance.com will remain unaffected. Binance has typically accessed SEPA through payment intermediaries.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This change comes at a time when Binance has been under the radar of regulators due to concerns about potential money laundering activities. Just this month, Binance, along with its U.S. affiliate, entered an agreement with the U.S. Securities and Exchange Commission (SEC) to ensure U.S. customer assets remain within the country until the resolution of an ongoing lawsuit filed by the regulatory agency.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Paysafe partnership, which began last year, enabled Binance users to deposit sterling via Faster Payments, a British network that supervises payments and bank account transfers. Binance users will now have to update their banking details and may be required to agree to new terms to continue using SEPA services after Paysafe&#8217;s withdrawal.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>About the author<\/strong><strong><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sharan Kaur Phillora\u2019s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology \u2013 two emerging technologies that will change how we interact with each other in the future. When she isn\u2019t exploring a new idea or concept, she enjoys reading literary masterpieces.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>July 3, 2023 By Sharan Kaur Phillora Paysafe Payment Solutions, the European banking partner of Binance, is set to withdraw support from September 25. This development will affect Binance&#8217;s Euro transactions in the European Economic Area (EEA).&nbsp;The termination of this service will be carried out in a phased manner over the next few months, with [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":3879,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[107],"tags":[],"class_list":["post-3878","post","type-post","status-publish","format-standard","has-post-thumbnail","category-all"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Binance&#039;s European banking partner Paysafe to withdraw support - Blockwind News<\/title>\n<meta name=\"description\" content=\"Binance&#039;s European banking partner Paysafe to withdraw support . 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