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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Cryptocurrencies

Cryptocurrencies

European banking partner to drop Binance.

Binance
Smartphone with displayed Binance logo and representation of cryptocurrencies are placed on keyboard... Smartphone with displayed Binance logo and representation of cryptocurrencies are placed on keyboard in this illustration taken, November 8, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
Binance
Smartphone with displayed Binance logo and representation of cryptocurrencies are placed on keyboard... Smartphone with displayed Binance logo and representation of cryptocurrencies are placed on keyboard in this illustration taken, November 8, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

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Binance’s European banking partner Paysafe Payment Solutions Ltd., will discontinue sponsoring the U.S. cryptocurrency exchange on Sept. 25, CoinDesk reported Wednesday.

According to Binance’s spokeswoman, the crypto exchange will switch SEPA providers for euro deposits and withdrawals, replacing Paysafe.

Binance uses payment intermediaries for SEPA.

Reuters received no response from Paysafe or Binance.

Officials for money laundering are investigating Binance.

Binance and its U.S. affiliate reached a deal with the Securities and Exchange Commission earlier this month to keep U.S. customer funds in the nation until a broad lawsuit is resolved.

Last year, Binance partnered with Paysafe to let users deposit pounds using Faster Payments, a British payment network.


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