EMEA Daily: Binance reopens EUR and GBP transfers

Binance, EMEA, EU, UK, crypto

In today’s major news from Europe, the Middle East and Africa, the European Union is set to add new sanctions against wealthy Russians and the Russian Parliament, while Binance has taken over deposits in European Union banks and withdrawals in pounds sterling.

Additionally, the European Parliament’s Monetary Committee will soon vote on a measure to regulate crypto assets in Europe, identity verification firm Thirdfort has raised $20 million, and telecom operator Orange and Masmovil Ibercom have announced their intention to merge.

EU to take further action against Russian leaders and Belarusian banks

The European Union (EU) is set to impose more sanctions targeting wealthy Russians, their families and members of the Russian parliament, diplomats have told Bloomberg.

Following Russia’s invasion of Ukraine, this is the latest round of sanctions for more than 100 members of the Federation Council, the upper house of the Federal Assembly. The panel voted for war in Ukraine and approved a measure that criminalizes the reporting of what Russia calls “fake” news about the invasion, according to the anonymous diplomats.

Binance reopens euro and pound transfers

Nine months after the cryptocurrency exchange, Binance has suspended deposits at European Union banks and withdrawals of British pounds, the Cayman Islands-based digital network announcement Monday (March 7) he resumed both.

Transactions can be made through the Single Euro Payments Area (SEPA) payment network and Faster Payments Services (FPS), and customers can access these services on their computer or on the Binance app .

European crypto regulations may need clarification from day one

On March 14, the European Parliament’s Monetary Committee will vote on the Markets in Crypto Assets (MiCA) Directive, which aims to regulate crypto-assets in Europe.

The vote was delayed last week to review some provisions, and the 168-page document offers a comprehensive and detailed report that promises some security for crypto issuers, exchanges and custodians operating within a legal framework. However, an analysis of the text suggests that certain questions will arise quickly, and that certain products will find it difficult to adapt to the law.

Thirdfort FinTech Identity Verification Raises $20M

British identity verification company Thirdfort has raised $20 million, thanks to a recent investment from Breega and Element Ventures.

The company offers a risk engine for corporate clients in the legal, real estate and financial sectors, which allows them to perform know-your-customer (KYC) checks and ensure they are complying with anti-money laundering regulations. money (AML).

From Levi’s to Danone, brands face high-stakes decision on Russian response

Since the fall of the Berlin Wall in 1989 and the collapse of the former Soviet Union, Levi’s jeans have played a unique role in this part of the world. More than a symbol of Western style and values, the garment was also synonymous with freedom and independence.

However, that run as a fashion ambassador may have come to an end this week as Levi Strauss & Co. joined a growing list of American companies and brands that have renounced Russia’s attack on Ukraine. For the first time in 32 years, the company announced it was lowering its denim freedom flag.

Orange, merger of the Masmovil plan, launch of the Spanish telecom division

Masmovil Ibercom and French telecommunications operator Orange are seeking to consolidate Spain’s telecommunications market through a merger that would value the combined company at 19.6 billion euros ($21.3 billion), Bloomberg reported Tuesday, March 8.

If the merger goes ahead, the combined company would be a 50-50 joint venture, co-controlled by Orange and Masmovil, according to a declaration by companies. Since Masmovil is about 6 billion euros (about $6.5 billion) in debt, it would have to make a cash payment to Orange to balance out the merger.

PPRO takes over Alpha Fintech

Digital payments infrastructure company PPRO has acquired payments technology platform Alpha Fintech on undisclosed terms, bolstering PPRO’s presence and networks in the Asia-Pacific (APAC) region.

Integrating Alpha’s platform will also allow PPRO to offer a plug-and-play orchestration layer for faster integration of products and services at scale. Additionally, as part of the agreement, Alpha’s 90 PayTech experts will be part of PPRO’s locations in Australia, Argentina, Singapore and the United States.

Donations of Crypto Assets Distributed to Ukrainian Army and Volunteers

Whitepay, a fundraising platform launched to help Ukraine, has announced that it has raised $2 million in stablecoin tether (USTD), according to a report from Arab News. The donated cryptocurrencies were sent to the Ukrainian army to treat injured soldiers and to a humanitarian fund that finances volunteers.



On: Forty-two percent of US consumers are more likely to open accounts with financial institutions that facilitate automatic sharing of their bank details upon sign-up. The PYMNTS study Account opening and loan management in the digital environmentsurveyed 2,300 consumers to explore how FIs can leverage open banking to engage customers and create a better account opening experience.