Binance P2P, a peer-to-peer crypto trading platform, has introduced 5 new automated payment methods for buyers and sellers across 15 fiat currencies. These new options allow users to instantly receive purchased assets once payment is confirmed, improving trading efficiency.
The automated system verifies payments and releases assets without requiring sellers to manually check, operating 24/7 to minimize delays. Only approved Binance P2P merchants can utilize these methods, identified by a pink badge. Binance states this enhances security and smooth transactions for its users.
However, Binance recently faced a hurdle with euro transactions. Finance Magnates reported suspended euro deposits and withdrawals due to payment provider issues, sparking concerns about Binance’s regulatory status in Europe.
Specifically, Single Euro Payments Area (SEPA) transfers were suspended temporarily. Binance’s tweet suggested uncertainty about reinstating SEPA, frustrating users unable to access funds. This followed Paysafe’s decision to end euro collaboration with Binance effective September 25.
But Binance clarified SEPA services would continue until then, attributing any account closures to routine compliance checks. While causing short-term disruption, Binance aimed to quickly resolve this matter and maintain operational continuity.
