Crypto exchange Binance has collaborated with Paysafe to resume Single Euro Payments Area (SEPA) bank transfers for clients, according to a report by The Block on Wednesday.
- Binance temporarily stopped SEPA transfers in July of last year, citing events beyond their control.
- The exchange has started launching support for SEPA, a system that allows users to make cashless euro payments through bank accounts anywhere in the EU and several non-EU nations.
- Binance spokesperson told The Block that some users will have SEPA access today as part of the trial before fully rolling out it to other users across the European Economic Area.
- Paysafe will function as a fiat on-ramps partner for Binance in Europe. Binance Spokesperson stated that Paysafe has created a platform for Binance via their digital wallet technology.
The platform will also support payment processing capabilities, which act as Binance’s fiat-to-crypto services for users in Europe. BNB USD up +2.61%.