Tag: Binance

Binance France temporarily expands partnership with Paysafe

Binance France has temporarily extended its collaboration with Paysafe. The partnership, which was supposed to end on Sep. 25, has been prolonged to ensure smooth operations. Binance France clients are now urged to convert their fiat balances to crypto. In June, Binance said it was working with Paysafe, the global payment solutions provider, to implement an orderly and fair process to terminate this service over the next few months. In the Sep. 26 update, a Binance France spokesperson said the exchange had negotiated more time for clients and would provide another update on…

Binance France Urges Users to Convert Fiat to Crypto

The global crypto exchange has been facing intense regulatory scrutiny. Most of its regulatory issues are in Europe Binance has urged customers in France to convert their fiat currency on the exchange to crypto. This comes on the heels of the crypto exchange losing its euro banking partner Paysafe. As part of the partnership, Paysafe provided Binance France with infrastructure for euro deposits and withdrawals via SEPA bank transfers. The companies announced the drawing end of their partnership in June. It expired on September 25 with Binance yet to reveal…

Binance Hails Turkey as a Crypto Hub

Speaking to Serdar Turan, the Editor-in-Chief of CoinDesk Türkiye, in the lead up to Binance Blockchain Week in early November, Conlan said: “I think we have an enormous potential and opportunity in Web3, and it’s one of the reasons I’ve been drawn to this industry three years ago. The major reason being the penetration. If you look at the global industry, we’re only at 5% penetration globally. I know obviously here in Turkey, it’s at 12%.” Source

Binance Exits Russian Market, Sells Business to CommEX

The new development comes a day after CommEX officially launched on September 26, 2023. Binance, the world’s largest cryptocurrency exchange, has exited the Russian market, selling its business operations to CommEX, a digital assets trading platform. While Binance did not disclose the financial terms of the deal, the company assured its Russian users that all their assets are safe and will be securely protected during the transition process, which is expected to span up to a year. Binance to Start Migrating Users to CommEX Announcing the exit on September 27,…

Binance still struggling to find banking partner in France: Report

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After losing its euro banking partner, Paysafe, Binance France has proposed that its customers immediately convert all the fiat money they hold on the exchange into crypto, according to comments from an executive to local media.  The partnership between Binance France and Paysafe expired on Sept. 25. The latter supported Binance’s French subsidiary with infrastructure for euro deposits and withdrawals via SEPA bank transfers. The end of the partnership was announced in late June, but Binance France still has not found a new partner. Related: CZ appoints Binance security team…

Binance to Sell Entire Russia Business to CommEX

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Binance Academy Notes 62% Increase in Usage Led by Learners from Emerging Markets

The platform’s usage is not limited to individual users but also extends to educational organizations. Global crypto exchange Binance’s open-access blockchain and crypto education platform Binance Academy has reported a 62% increase in the number of users.  According to platform data, from September 2022 to August 2023 there was a marked increase in individuals seeking crypto education. This brings the total number of individuals to use the platform to further their knowledge of blockchain technology and cryptocurrencies since it was founded in 2018 to 39 million.   Top trending topics in…

Binance Japan and MUFG Trust Bank Forge Partnership for New Bank-Backed Stablecoin

This partnership is also a significant stride in the Japanese government’s endeavor to embrace blockchain technology and cryptocurrencies, fostering their broader adoption within the country and beyond. Binance Japan is partnering with Mitsubishi UFJ (MUFG) Trust Bank, a move squarely aligned with the Japanese government’s new Web3 policy. This collaboration aims to birth a new stablecoin, and the chosen platform for its development is the Progmat coin platform, a proprietary asset of MUFG. This platform diligently adheres to the strict Japanese regulations governing the issuance and management of cryptocurrencies. Back…