Tag: Paysafe

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March 11, 2022

Regulatory concerns! The UK FCA really does not like crypto giant Binance!

Early this week, the UK Financial Conduct Authority (FCA) said that it would be aware of the announcement made by the Eqonex Group and the Binance Group confirming that an entity called Bifinity UAB will advance a US$36 million convertible loan to Nasdaq-listed crypto exchange Eqonex. Bifinity has acquired some specific contractual rights over Eqonex Limited through this loan. The Lithuanian Bifinity is the official fiat-to-crypto payments provider for the Binance Group launched on 7 March 2022.
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March 4, 2022

Binance partner Paysafe presents strong Q4 2021 results!

Most recently, public-listed payment processor Paysafe trading as Paysafe, NETELLER, Skrill, and Rapid Transfer attracted attention through its partnership with the world's leading crypto exchange Binance. The company is expecting strong growth in high-risk segments such as crypto, financial services, travel, or iGaming. Through the partnership with Paysafe, Binance has access to the UK FPS system, which the FCA is concerned about. Paysafe stocks gained more than 17% following its fourth-quarter earnings, which beat analyst expectations.
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February 16, 2022

No surprise! UK regulator concerned about the Binance deal with Paysafe!

According to a report in Financial Times, the UK Financial Conduct Authority (FCA) has said it is concerned about a deal to give Binance, one of the world's biggest crypto exchanges, access to the UK's Faster Payment Service. A few months ago, the regulator warned that Binance would pose a "significant risk" to consumers. Binance informed its users that they could now deposit fiat funds via the Faster Payment after it reached an agreement with regulated payments group Paysafe.
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