Crypto firm Binance today provided updates for Paysafe users, after Paysafe decided to stop processing EUR deposits for Binance users.

Paysafe users are advised to take appropriate actions in advance.

Paysafe users may convert EUR balances in their Binance accounts to USDT before October 31, 2023 at 0:00 (UTC). Meanwhile, users may continue to withdraw their EUR balances from Binance accounts to their bank accounts.

The decision by Paysafe will cause a brief interruption to the following services:

• EUR Deposits:

At 2023-09-25 00:00 (UTC), EUR deposits by Paysafe users were suspended.

• Buy/Sell Crypto with EUR:

Starting from 2023-09-28 04:00 (UTC), users will not be able to buy crypto with EUR balances, or sell crypto for EUR balances.

• Binance Spot:

Effective from 2023-09-28 04:00 (UTC), all Paysafe users will not be able to trade EUR spot trading pairs. These users’ open orders on EUR spot trading pairs will start to be canceled from 2023-09-28 05:00 (UTC). Paysafe users are strongly advised to cancel open orders on EUR spot trading pairs before 2023–09-28 04:00 (UTC).

Effective from 2023-09-28 04:00 (UTC), Binance will terminate Spot Trading Bots services on EUR/USDT and EUR/BUSD trading pairs for Paysafe users. Users are strongly advised to update and/or cancel their Spot Trading Bots prior to the cessation of Spot Trading Bots services to avoid any potential losses.

• Binance Convert:

Convert will be restricted to EUR reduce only mode from 2023-09-28 04:00 (UTC). Reduce only mode allows users to sell EUR via Convert market orders or close EUR open limit orders, but restricts buying with EUR and opening new EUR limit orders. All Convert EUR open limit orders will be closed from 2023-09-28 05:00 (UTC).

• Binance Auto-Invest:

Auto-Invest EUR plans of Paysafe users will be paused from 2023-09-28 at 04:00 (UTC), and these users may not be able to subscribe to Auto-Invest plans with EUR thereafter. Note that Auto-Invest EUR services remain usual for other users.

Binance says it is working to integrate new fiat channels onto Binance soon.