Binance, the largest cryptocurrency exchange in the world, has announced new partnerships with fiat providers to expand its Euro services. This move will allow Binance users in Europe to conveniently convert their fiat holdings to crypto and vice versa.
The agreements with the new fiat partners will enable Binance users to deposit and withdraw Euros through Open Banking and to buy and sell crypto using bank cards and fiat balances. These new partners are regulated and authorized to offer a range of services, providing a secure and reliable platform for users.
The new partners are located across Europe and include TrueLayer and Nuvei. TrueLayer, authorized and regulated by the UK Financial Conduct Authority, is an open banking platform that facilitates transfers between crypto and fiat currency. Nuvei is a transaction processor that allows users to make seamless transactions between crypto and fiat currency.
Binance emphasized the importance of enabling easy conversions between crypto and fiat as a crucial step in advancing the global adoption of cryptocurrencies. By making it more accessible and user-friendly, Binance aims to help individuals who are new to crypto feel less intimidated. These new partnerships align with Binance's mission of increasing financial freedom worldwide.
The expansion of Binance's Euro services through these new fiat partnerships demonstrates the exchange's commitment to providing efficient and diverse options for its users. With Binance's continued efforts to bridge the gap between traditional finance and the world of cryptocurrencies, more people are expected to enter the crypto market and experience the benefits it offers.