Binance, the world’s leading crypto exchange platform, is launching a bold move to strengthen its presence in Europe. Recently, the exchange announced new strategic partnerships with regulated fiduciary entities, with the aim of simplifying the transition from euro to crypto for its European users.
Binance restores euro transactions for better UX in Europe
Following a temporary suspension of its euro services in September due to a dispute with its financial partner Paysafe, CEX (Centralised Exchange) Binance returns with new alliances! This is excellent news, as it will enable existing users to convert and then withdraw their crypto into euros with ease, as well as boosting adoption.
October 19, Binance thus officialized partnerships with entities regulated in fiat currency. According to the platform, these new fiduciary partners offer various services such as:
- Deposit and withdrawal operations in EUR via Open Banking and SEPA/SEPA Instant,
- Cryptocurrency purchase and sale transactions with fiduciary means, including via credit card,
- Availability of EUR pairs for all users.
According to Binance, from have already adopted these renovated services in particular, EUR transactions via SEPA, SEPA Instant and Open Banking.
The collaborations formed with fiduciary entities are intended not only to extend the Binance’s customer base but also to demonstrate a sincere commitment to a growing community.
These actions aim to create harmony between digital and fiat currencies, while offering benefits tailored to users’ financial needs.
In short, for large-scale deployment of crypto, a solid bridge with conventional currency is essential. In this way, fiat players play a pivotal role in this integration process. In fact, they make it easier for newcomers to immerse themselves in the crypto world, and thus promote wider dissemination of blockchain technology.
As a journalist at Coinpri, I’ve been captivated by the world of bitcoin and blockchain since 2020. The decentralized aspect of Bitcoin particularly piqued my interest. Since then, I’ve been working constantly to spread my knowledge, hoping one day to see a world where everyone fully enjoys their financial freedom.