Summary

• Binance has partnered with new regulated and authorized fiat providers to facilitate Euro transactions for its users.
• The partnership introduces a range of fiat services, including EUR transactions via Open Banking and SEPA/SEPA Instant and crypto trading with bank cards.

Binance Teams Up with Regulated Fiat Providers

Following the recent separation from its original Euro banking partner, Paysafe, in September, Binance has inked new partnerships with regulated and authorized fiat providers to facilitate Euro transactions. The crypto exchange aims to maintain its commitment to offering versatile financial services to its global community.

Binance announced:

"We have signed agreements with a number of new regulated and authorized fiat partners to provide a variety of fiat services to our community. Users have already started being migrated to the new services." 

The partnership introduces a number of fiat services for users, including EUR transactions via Open Banking and SEPA/SEPA Instant, crypto trading with bank cards, fiat balances, and the ability to buy and sell crypto with SEPA/SEPA Instant.

Single Euro Payments Area (SEPA) encompasses 36 countries within the European Union, promoting seamless cashless Euro payments.

Binance emphasized the importance of simplifying the conversion of fiat to crypto and vice versa, recognizing it as a critical step in driving global digital asset adoption. They stated, "Offering fiat services provides essential ease of use to all participants in the crypto ecosystem."

This development comes on the heels of Binance facing regulatory hurdles, including the rejection of its custody license application by Germany's financial regulator, BaFin, earlier in the year.