Global crypto exchange Binance has finally resumed Euro and Pound deposits/withdrawals via the SEPA and FPS payment networks. With this, users can deposit fiat on the crypto exchange without any additional fees for a limited time.
The crypto exchange announced yesterday this decision:
“Binance and Paysafe will fully reopen EUR and GBP deposits and withdrawals respectively via the SEPA payment network (SEPA) and Faster Payments Services (FPS).“
In addition to that, Binance detailed:
“Binance retail users across Europe, with the exception of Netherlands and Switzerland, will be able to make EUR transfers directly via SEPA.”
To commemorate this achievement, Binance is “offering all verified users zero fees for depositing EUR via SEPA and GBP via FPS” for a limited time.
Users can take advantage of this until March 31 at 11:59 p.m. UTC.
Binance had previously suspended EUR deposits via SEPA in July last year. However, in the last week of January, the crypto exchange announced a partnership with Paysafe to bring back SEPA. Also, the company brought a pilot program for testing EUR deposits and withdrawals via the SEPA payment network.
Similarly, Binance had suspended GBP withdrawals in July last year. This happened due to U.K.’s financial watchdog, FCA issuing warnings to the crypto exchange.
Following the warning, Binance closed down its partnership with Clear Junction, stating it “will no longer be facilitating payments related to Binance.”
However, FCA soon stated that Binance has complied with its requirements. Also, the watchdog said about Binance that it has to register with the authority for availing itself of the transitional provisions in the Anti-Money Laundering regulations.