In a notable development that underscores the mounting regulatory pressures faced by cryptocurrency exchange Binance, Paysafe Payment Solutions, its European banking partner, has chosen to sever ties and withdraw its support.
The decision by Paysafe to discontinue its embedded wallet solution across the European Economic Area (EEA) adds to the growing list of banking partners distancing themselves from Binance, amid increasing scrutiny from regulators worldwide.
The move necessitates the exchange to swiftly identify an alternative provider for euro deposits and withdrawals, as it navigates a complex landscape rife with regulatory challenges.
New Provider for Euro Deposits And Withdrawals Needed
Binance’s European banking partner, Paysafe Payment Solutions, has announced its decision to cease offering its embedded wallet solution to the cryptocurrency exchange across the European Economic Area (EEA) starting from September 25.
Paysafe and Binance are reportedly working to impl
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