Binance, the world’s largest cryptocurrency exchange by trading volume, has announced new partnerships with fiat payment providers to enable its users to withdraw and deposit euros seamlessly. This comes after Binance’s previous partner, Paysafe, decided to terminate its relationship with the exchange in October.
According to a blog post published by Binance on Wednesday, the exchange has integrated with two European payment processors, Clear Junction and Koinal, to offer fast and secure euro transactions for its customers. Users can now link their bank accounts to Binance and use SEPA (Single Euro Payments Area) transfers to move funds between the platforms. The service is available in 36 countries across Europe, including Germany, France, Italy, Spain and the Netherlands.
Binance said that the new fiat partners will help it expand its reach and accessibility in the European market, where it has seen a significant growth in demand for crypto services. The exchange also claimed that it offers the lowest fees for euro transactions among its competitors, charging only 0.1% for deposits and withdrawals.
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Binance’s CEO Changpeng Zhao (CZ) commented on the announcement, saying: “We are always looking for ways to lower the barriers to entry for our users and make crypto more inclusive for everyone. By partnering with Clear Junction and Koinal, we are providing more options and convenience for our European users to access the Binance ecosystem.”
The move follows Binance’s separation from Paysafe, a leading online payment provider that owns Skrill and Neteller, two popular e-wallets used by many crypto traders. Paysafe announced in October that it would stop processing payments for Binance due to regulatory concerns, as the exchange faced increased scrutiny from authorities around the world.
Binance has been trying to improve its compliance and regulatory status in recent months, hiring former regulators and experts to lead its legal and policy teams. The exchange has also applied for licenses in several jurisdictions, such as Singapore, Malta and the UK, where it hopes to resume its operations soon.
According to various sources , Binance is one of the most popular and trusted platforms for trading cryptocurrencies, offering a wide range of features, such as spot trading, futures trading, margin trading, staking, lending, savings, mining pool, launchpad, launchpool, liquid swap, Binance Smart Chain, Binance Card, Binance Pay and more. Binance also supports over 300 cryptocurrencies and tokens, including its own native coin BNB, which can be used to pay for fees at a discounted rate.
Binance has a high liquidity and trading volume, making it easy for users to execute their orders quickly and efficiently. Binance also has a user-friendly interface and mobile app, as well as a dedicated customer support team.
Coin Metrics, a leading provider of crypto data and analytics, announced today that it has raised $6.7 million in a new funding round led by a new investor. The company did not disclose the name of the investor but said that it was a “global financial institution” that shares its vision of building a more transparent and efficient crypto ecosystem.
The new funding will help Coin Metrics expand its product offerings, grow its team, and accelerate its global expansion. Coin Metrics provides data and insights on various aspects of the crypto market, such as network health, market behavior, risk, and valuation. The company also offers enterprise-grade data solutions for institutional clients, such as index providers, exchanges, custodians, and funds.
Coin Metrics was founded in 2017 by a group of crypto enthusiasts who wanted to create a more reliable and comprehensive source of data for the emerging industry. Since then, the company has grown to become one of the most trusted and respected names in the space, with a client base that includes Fidelity Investments, Coinbase, Bitstamp, BlockFi, and many others.
Coin Metrics co-founder and CEO Tim Rice said in a statement: “We are thrilled to welcome our new investor and partner to the Coin Metrics family. This investment validates our vision and the progress we have made in building the most trusted data and analytics platform for the crypto industry. We look forward to working together to further our mission of bringing greater transparency and efficiency to the crypto ecosystem.”
The new funding round follows a $15 million Series Around that Coin Metrics closed in May 2020, which was led by Goldman Sachs and included participation from Castle Island Ventures, Highland Capital Partners, Avon Ventures, Communitas Capital, and Collab Currency.
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