Binance takes action after Paysafe statement
Binance takes action after Paysafe statement
Cryptocurrency exchange Binance has issued a notice to European users with the words "Action Required."
The exchange issued the notice after receiving information that its European banking partner, Paysafe, will stop transactions (deposits and withdrawals) in euros via SEPA for Binance clients as of September 25, 2023.
As a result, Binance intends to implement a number of measures to ensure a smooth transition for its European users, especially those who are active in trading, according to Coincu.
The exchange will give European users additional time to evaluate data related to the Paysafe service. In addition, Binance will close the accounts of active traders opened on Paysafe in advance to speed up refunds and ensure a stable user experience during the transition period.
The cryptocurrency exchange also notes that all funds in accounts denominated in euros or pounds sterling will be returned to clients as soon as possible.
The measures taken by Binance underscore the exchange's commitment to maintaining a safe and secure trading environment, once again demonstrating its client-centric approach.
Read also: Kraken opens access to PYUSD trading.
