Binance pilot program could see the resumption of deposits and withdrawals sooner rather than later for the Euro.
SEPA x Binance: Euro Moves
Binance has officially announced its partnership with Paysafe, which will herald a pilot program for Euro deposits and withdrawals through the European Union’s Single Euro Payments Area (SEPA) payment network.
The announcement was made official on January 26 via Binance’s webpage and signals that the pilot move was made effective on the same date, January 26, at 13:00 UTC.
“Users are selected based on a range of testing criteria to participate in the pilot program. The full re-opening of SEPA channels will scale up across the markets in due course,” the official announcement from Binance read.
Binance had previously halted payments from SEPA in July, but it seems the winds of change are in motion as the latest announcement got underway in a matter of hours.
The initial rollout has been orchestrated in phases which will see it begin in Belgium and Bulgaria and gradually expand throughout the block in a matter of weeks. As a result of Brexit, the United Kingdom will not be included in the move.
The development will likely serve as a bullish indication for crypto users at large as SEPA allows users to make cashless transactions in Euros anywhere in the EU as well as a select number of non-EU nations.
BSC News will be paying close attention to the rollout and indeed further developments as they occur.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.