Binance said that it is working towards integrating new fiat channels.
Binance has issued an official statement detailing how users should proceed after its France division’s partnership with Paysafe expired this week.
The crypto exchange has urged users to convert their EUR balances in their Binance accounts to USDT stablecoin before October 31st. Customers will still be able to withdraw their EUR balances from the crypto exchange accounts to their bank accounts. Additionally, EUR transactions on Binance Convert, which functions similarly to a token swap, will be restricted to the EUR reduce-only mode.
“Please rest assured all funds are secure, and all other crypto related services remain unaffected. Putting users first is Binance’s most important principle. We are working to integrate new fiat channels onto Binance soon, as in line with our mission to provide a seamless crypto experience for all users.”Paysafe was Binance’s banking partner, which supported EUR deposits and withdrawals through the European Union’s Single Euro Payments Area bank transfers.
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