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.
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.
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