Binance.com to re-enable EUR deposits/withdrawals

[alani123]

Is this their new partner?[1] I tried to search for more info but it seems like the company just recently launched. Are you sure this is not a company that is owned by Binance in one way or the other? There is no company info on their page, just a simple address and a bunch of marketing messages to the customers. Kinda hard to trust this new provider. I wouldn't be surprised if it got blocked again sooner or later. CMIIW.

[1] https://www.paymonade.tech/en

Yes indeed binance is paying whack-a-mole with regulators. Binance tries to remain legal and regulated but regulators instead of doing proper investigation go after its payment providers... This might be a dangerous game where it could see it banned completely from the EEA market and I'm not sure what's going to happen then...

Paymonade seems eerily similar to binance when it comes to design of the website. For instance, their EUR/USD etc. logos in the site you mentioned are the exact same with binance.com. And in their website it seems that they mention binance directly: https://www.paymonade.tech/en/support


So binance corporate structure and paymonade ownership really dosn't matter very much. We know binance has actively been trying to keep these things under veils but there being direct mention to binance on the website is enough evidence to establish a direct link. Not that it matters much, it's just a passthrough company to get money to binance and it'll likely be axed by regulators anyway. At least that for the average user.

For the more inquisitive I'm finding something interesting here:


A company called paymonade in poland has a conneciton to Singapore parliamentarian Calvin Cheng Ern Lee


Source: https://www.northdata.com/Paymonade+sp.+z+o.o.,+Warszawa/KRS0001030787

This person seems to have a connection with crypto and has received positive coverage from Binance's official news account:
https://www.binance.com/en/feed/post/2023-08-16-ex-singapore-parliamentarian-s-swiss-company-launches-swiss-franc-and-euro-stablecoins-975783

This is a very interesting rabbit hole, I'll look into it more perhaps.

[Becassine]

It seems that many users have problems with paymonade ...

https://twitter.com/search?q=paymonade&src=typed_query

[alani123]

It seems that many users have problems with paymonade ...

https://twitter.com/search?q=paymonade&src=typed_query

I also had issues with Paymonade.

For one, you need to pass KYC all over again.
Don't get me wrong, it's near instant as it usually was with Binance, but it lags in the final step and you have to do it all over again. I was never able to get through it to be honest and completely gave up in the end.

I don't know what to make of this. Probably Binance in playing whack-a-mole with EU legislators can't manage to find a good solution for depositing EUR. But now we're completely stuck with this.
Given that the rate is also not that good, it's probably more worth it to trade EUR/USDT in another exchange and deposit to Binance if you really need USDT on Binance.

[alani123]

So, as of today Paymonade in binance.com is disabled, the prompt to deposit EUR is still there, this time with Bifinity UAB...

Buuuut, if you try to actually deposit any amount, it will be returned to your account instantly. That's what happened to me at least. No need to try this yourself.