Binance Introduces Zero Fee for EURI Purchases via SEPA Bank Transfer

In
a
recent
announcement,
Binance
revealed
the
introduction
of
a
zero-fee
SEPA
bank
transfer
option
for
users
to
deposit
EUR
and
receive
EURI,
a
EURO
stablecoin.
This
new
feature
is
available
from
September
5,
2024,
to
October
5,
2024,
according
to
Binance.

About
Eurite
(EURI)

Eurite
(EURI)
is
one
of
the
pioneering
EURO
stablecoins
regulated
under
the
Markets
in
Crypto-Assets
Regulation
(MiCA)
within
the
European
Economic
Area
(EEA).
Issued
by
Banking
Circle
S.A.,
EURI
enhances
Banking
Circle’s
existing
payment
systems.
Compliance
with
MiCA
ensures
that
EURI
adheres
to
stringent
EU
standards,
thereby
bolstering
trust
and
credibility
among
holders.

Regulatory
compliance
with
MiCA
is
crucial
as
it
ensures
consumer
protection,
transparency,
and
financial
stability.
This
reduces
legal
risks
and
promotes
a
safer
environment
for
users.

Binance’s
Strategic
Move

By
launching
a
zero-fee
SEPA
bank
transfer
option,
Binance
aims
to
celebrate
the
listing
of
EURI,
which
started
trading
on
August
28,
2024.
This
move
is
expected
to
attract
more
users
by
offering
a
cost-effective
way
to
acquire
EURI,
thus
enhancing
the
overall
trading
experience
on
the
platform.

Implications
for
the
Crypto
Market

This
initiative
by
Binance
is
likely
to
have
significant
implications
for
the
stablecoin
market,
particularly
in
Europe.
The
zero-fee
structure
can
encourage
more
users
to
adopt
EURI,
thereby
increasing
its
circulation
and
utility.
Moreover,
regulatory
compliance
with
MiCA
adds
an
extra
layer
of
security
and
reliability,
which
can
attract
institutional
investors
as
well.

For
further
information,
refer
to
the
official
announcement
on

Binance.

Image
source:
Shutterstock