Cryptocurrency exchange Binance advised its users to convert their fiat Euro balances into Tether’s USDT before the end of October after it lost the support of its banking partner, Paysafe.
In a Sept. 28 update, Binance revealed that Paysafe “unilaterally decided to stop processing EUR deposits” for its users. This action has led to disruptions in various Binance services. These disruptions include suspending deposits and EUR spot trading pairs trading activities by 4:00 a.m. UTC today, Sept. 28.
According to Binance, its Paysafe users are advised to take appropriate actions in advance. Users unwilling to convert their EUR balances into USDT can directly withdraw their funds into their bank accounts.
The exchange added:
“We are working to integrate new fiat channels onto Binance soon.”
Meanwhile, Binance claims that Paysafe’s ” sudden ” service withdrawal is inaccurate. In June, Paysafe told CryptoSlate it was collaborating with the exchange to ensure a structured concl
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