Binance urges users to convert Euros to USDT after Paysafe debank

Binance has urged all Paysafe users to convert their Euros into USDT as it suspends spot trading for the fiat currency.

Crypto exchange Binance has urged users to convert their Euros into Tether before the end of October, after losing the support of its banking partner.European Paysafe users to convert their EUR balances in their Binance accounts to USDT before Oct. 31, noting that Paysafe has"unilaterally decided to stop processing EUR deposits for Binance users."

Binance however noted that users may continue to withdraw their EUR balances from Binance accounts to their bank accounts.The firm said that Paysafe users will no longer be able to trade EUR spot trading pairs from Sept. 28 at 4:00 am UTC and open orders will be canceled an hour later. Binance Convert, which operates like a token swap, will also be restricted for EUR transactions.Paysafe suspended Euro deposits on Sept. 25.

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