Cryptocurrency exchange Binance advised Paysafe users to convert their euro balances into the USDT stablecoin by October 31, stopping the purchase, sale and trading of this fiat currency from today.
The banking partner refused to provide deposit processing services to the platform from September 25, as previously announced. However, Binance called Paysafe’s decision “sudden.”
The exchange is currently working on integrating new fiat channels. The process is expected to take several days.
Currently, users can purchase cryptocurrency for euros through credit or debit cards and withdraw fiat money to bank accounts.
Let us remind you that on August 16, the exchange closed the platform for exchanging fiat for cryptocurrency Binance Connect (Bifinity).
Bifinity launched in March 2022 in collaboration with Checkout.com, Paysafe and other partners.
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