Binance, a cryptocurrency exchange, claimed on Wednesday that it has “reopened EUR bank transfers via SEPA.” Users are selected for the pilot programme based on a variety of testing factors, Binance explained. “In due order, the complete reopening of SEPA channels will be scaled out across the markets.”
According to Bloomberg, the deployment will begin in Belgium and Bulgaria, with the possibility of expanding to other countries in the coming weeks. In June of last year, Binance suspended transfers through the Single Euro Payments Area (SEPA).
Binance stated in August that regulatory compliance is a primary goal for the company. As it transitions from a technology firm to a financial services company, the corporation is shifting from a decentralised to a centralised corporate model.
Binance teamed up with a Thai startup earlier this month to operate a cryptocurrency exchange in Thailand. In December, Binance gained in-principle authorisation from Bahrain’s central bank to operate a cryptocurrency service provider in the nation.
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