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Market News

Binance Closes EUR Services As Paysafe Stops Euro Deposit

Binance urges users to convert their EUR balance as its European banking partner stops processing deposits.

Written By Gopal Solanky Gopal Solanky
Published 2023-09-28·Updated 2 months ago
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Binance Closes EUR Services As Paysafe Stops Euro Deposit

Paysafe, an European banking partner of Binance, reportedly suspended EUR deposits to the exchange platform on September 25.

According to the announcement from Binance, Paysafe has stopped processing EUR deposits on the Binance exchange without any prior notice. It facilitated fiat deposits and withdrawals for European users. 

The exchange has urged users to convert their EUR into USDT before October 31st. It also said that users can withdraw EUR from their wallets to bank accounts. 

Following the deposit suspension from Paysafe, Binance will have to disable several EUR related services on its trading platform, including the buying and selling of crypto assets using EUR. 

Users will no longer be able to trade EUR spot trading pairs from September 28 onwards, and all existing EUR spot orders will be canceled automatically. Binance will also terminate Spot Trading Bots services for EUR/USDT and EUR/BUSD for Paysafe users. 

Binance suspends EUR services
Binance suspends EUR services

Furthermore, Binance will also make changes to its products Convert and Auto Invest regarding EUR services. 

Paysafe is a UK-based multinational payment firm that offers a number of banking services, including payment processing, digital wallets, and peer-to-peer transactions.

Also Read: Binance Completes Exit From Russia Through Sale To CommEX

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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Gopal Solanky, Senior Reporter for Markets and Protocols at The Crypto Times
By Gopal Solanky Sr. Crypto Journalist
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Gopal Solanky is a Senior Reporter for Markets & Protocols at The Crypto Times, based in Ahmedabad. He covers institutional crypto adoption, Bitcoin treasury strategies, DeFi markets, protocol ecosystems, Ethereum network activity, Hyperliquid, on-chain trends, and broader digital asset market movements. Gopal has been active in the crypto ecosystem for more than six years. Before joining The Crypto Times full-time in 2023, he worked as a freelance crypto content writer, developing a strong understanding of blockchain infrastructure, DeFi protocols, market cycles, token mechanics, and peer-to-peer systems. His reporting focuses on explaining how protocols work, why market movements happen, and how institutional and on-chain activity affects crypto investors and builders. At The Crypto Times, Gopal also hosts on-the-record interviews with regional Web3 founders, protocol teams, and ecosystem leaders. His work has been cited by external publications, including Vulture.com, in coverage of major crypto stories such as the Hawk Tuah memecoin controversy. His reporting has also contributed to The Crypto Times’ coverage of major industry events, including FTX-related developments, institutional crypto adoption, and emerging protocol narratives. Gopal holds a Bachelor’s degree in Computer Applications, giving him a technical foundation for analyzing blockchain systems, crypto infrastructure, and market data.

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