{"id":3549,"date":"2023-10-20T06:29:59","date_gmt":"2023-10-20T06:29:59","guid":{"rendered":"https:\/\/infundpros.com\/markets\/crypto\/binance-announces-alliance-with-fiat-partners-to-offer-eur-services-heres-the-latest\/"},"modified":"2023-10-20T06:30:00","modified_gmt":"2023-10-20T06:30:00","slug":"binance-announces-alliance-with-fiat-partners-to-offer-eur-services-heres-the-latest","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=3549","title":{"rendered":"Binance Announces Alliance With Fiat Partners to Offer EUR Services \u2013 Here\u2019s the Latest"},"content":{"rendered":"<div>\n<p style=\"text-align:justify;\">Crypto behemoth Binance has introduced new fiat alliances to provide Euro transactions. The exchange confirmed that the initiative has commenced and users have already migrated to the new services.<\/p>\n<figure class=\"media\"><oembed data-embedo-height=\"400\" data-embedo-url=\"https:\/\/twitter.com\/binance\/status\/1715041951353827722\" loading=\"lazy\"><\/oembed><\/figure>\n<p style=\"text-align:justify;\">The new partnership promises to usher in various fiat services, including Euro (EUR) deposit and withdrawal through open banking, SEPA (Single Euro Payments Area), crypto buy\/sell using bank cards and fiat balances, and EUR spot pairs.<\/p>\n<p style=\"text-align:justify;\">The move arrives a month after Binance\u2019s original EUR banking partner Paysafe stopped working with the firm.<\/p>\n<p style=\"text-align:justify;\">Per the exchange\u2019s Thursday post, users have already started being migrated to the new services. The announcement did not specify who the new fiat partners are.<\/p>\n<p style=\"text-align:justify;\">Binance emphasized the importance of converting fiat to crypto and vice versa, which would foster the adoption of digital assets globally.<\/p>\n<blockquote>\n<p style=\"text-align:justify;\">\u201cWithout an easy way to buy or sell crypto, users who are new to the space can find the process of buying or selling crypto unintuitive and intimidating. Offering fiat services provides essential ease of use to all participants in the crypto ecosystem.\u201d<\/p>\n<\/blockquote>\n<p style=\"text-align:justify;\">In September, several European users faced fiat withdrawal issues, following Paysafe-Binance termination. Users complained that they were unable to withdraw Euros which were obtained by selling their crypto holdings.<\/p>\n<p style=\"text-align:justify;\">\u201cHaving fiat \u2018on-ramps\u2019 and \u2018off-ramps\u2019 is key to a good user experience and enabling access to Web3 ecosystems for new users and crypto natives alike,\u201d the company wrote.<\/p>\n<p style=\"text-align:justify;\">The news comes a day after Binance\u2019s managing director of the French arm resigned, adding to a string of prominent exec departures. Binance also faced a major setback in June, in Europe.<\/p>\n<p style=\"text-align:justify;\">The exchange reportedly faced denials from Germany&#8217;s financial regulator, BaFin, for a custody license to operate in the nation. A month later, Binance withdrew its license application from the watchdog.<\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/binance-announces-alliance-with-fiat-partners-offer-eur-services-heres-latest.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto behemoth Binance has introduced new fiat alliances to provide Euro transactions. The exchange confirmed that the initiative has commenced and users&#8230;<\/p>\n","protected":false},"author":1,"featured_media":3550,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[],"class_list":{"0":"post-3549","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Binance Announces Alliance With Fiat Partners to Offer EUR Services \u2013 Here\u2019s the Latest | inFundPros<\/title>\n<meta name=\"description\" content=\"Crypto behemoth Binance has introduced new fiat alliances to provide Euro transactions. 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