Binance reintroduces SEPA transfers for its European users

The return of SEPA bank deposits for Binance

The SEPA transfers (Where Single Euro Payments Area) soon available again for all European users de Binance ? This is what the announcement made suggests. via the official blog of the platform.

This method of payment had originally deleted last July for reasons not revealed to the general public, but it had already been announced as an interim measure.

Almost 7 months later, Binance announces that SEPA transfers will be possible again from today, January 26, 2022 at 1 p.m. However, the return will be gradual, starting with implementation in Belgium and Bulgaria, then the measure should gradually be extended to the member countries of the European Union.

A Binance spokesperson said the platform has entered into a partnership with Paysafe, a British company specializing in online payments, to make the return of SEPA transfers possible.

This payment method was particularly popular with Binance users since it allowed deposit funds on the platform without any fees. His return should therefore be appreciated.

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A boost for Binance

The return to access to the European SEPA payment network is good news for Binance. Indeed, this last kept encountering obstacles about its international development.

The company was starting to crumble under investigations by various financial regulators across the United States, Japan or even Germany. We also remember that the platform had suddenly informed its users residing in Ontario that they had until January 31, 2021 to close their account following a dispute with the provincial regulatory authority.

However, Binance is making considerable efforts to restore its image in the face of these setbacks. She was able to announce the implementation of a hub in Dubai, but also could start growing in thailand through a partnership with Gulf Energy Development.

note that le PDG de Binance, Changpeng Zhao, has always known how to react calmly and has even admitted that all these regulations could finally make it possible to develop a healthier and safer ecosystem.

👉 To read on the same subject: Binance concludes a partnership with the African Cup of Nations Football (CAN)

The platform remains the leader of exchanges

Despite all these regulatory concerns and development standards, Binance remains the most used platform in terms of cryptocurrency trading volume. She can also boast of having more than 85 million users worldwide.

Cryptocurrency trading volumes by platforms

The tools offered by the platform are numerous, such as buying cryptocurrencies, futures (futures) trading, cryptocurrency staking, leveraged trading and much more.

Binance also has its own token, le Binance Coin (BNB), in 4th position in the ranking of cryptocurrencies in terms of market capitalization. As such, the BNB shows more than $65 billion in market capitalization at the time of this writing.

However, Binance is not resting on its laurels and continues to expand internationally, which should allow it to remain 1st in the ranking of exchanges for a while.

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About the Author : Maximilien Prue

Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make the blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
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