Binance Reopens EUR and GDP Transfers with SEPA

The latest news signals a positive development in Binance’s regulatory travails on the continent.

Binance Reopens SEPA Transfers

After several tumultuous months, users who transact with Euros and the British Pound are again able to complete withdrawals and deposits via the SEPA payment network (SEPA) and Faster Payment Services (FPS). Users mostly based in Europe and the UK are now able to begin freely using the common European transaction service for the first time since July 2021.

The announcement was given on March 7 and went into effect on the same day. Retail users in all countries but Switzerland and the Netherlands will be able to make Euro transfers. Binance currently does not have corporate accounts prepared but the announcement stated that they are working with Paysafe to expand services.

“Binance and Paysafe will fully reopen EUR and GBP deposits and withdrawals respectively via the SEPA payment network (SEPA) and Faster Payment Services (FPS), effective Monday, 2022-03-07 11:00 AM (UTC) for both Desktop and App,” the March 7 announcement reads.

In commemoration of the reopening, Binance has offered all verified users zero fees for depositing euros via SEPA and British pounds via FPS until the end of March. All bank transfers have to be at least €3 or £3 in order to cover relevant transaction fees.

Binance has been formally expanding its payment services. The move to open the SEPA payments once again comes on the back of Binance announcing a new fiat-to-crypto payment service called. Bifinity. Users of the largest crypto exchanges are beginning to have 

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