Cryptocurrency exchange Binance said on Wednesday it has entered into a partnership agreement with Paysafe, a UK online payments company. The exchange wrote in a blog post it will initially launch the pilot program for EUR Deposit and Withdrawal via the SEPA payment network with select users. Binance did not explain when it might resume SEPA payments for all users.
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Binance suspended SEPA payments with EUR in July 2021 after the UK Financial Conduct Authority (FCA) banned Binance's UK subsidiary from any regulated activity without prior written approval from the regulator. The FCA emphasized that Binance Markets Limited and Binance Group are not licensed to conduct regulated activities in the UK.
Paysafe (formerly known as Optimal Payments) is a multinational online payments company. Various Paysafe group companies hold a number of licenses from different financial regulators, including the US Securities and Exchange Commission and the FCA.
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