Binance Users in the Netherlands Offered Free Transfer to Coinmerce
In a significant development for the cryptocurrency industry in the Netherlands, Binance has announced its decision to cease operations in the country. This move comes after Binance failed to obtain a virtual asset provider license from De Nederlandsche Bank (The Dutch Central Bank). As a result, Binance will officially exit the Dutch market on July 17, 2023. However, the company has taken steps to ensure a seamless transition for its Dutch users by partnering with Coinmerce, one of the country’s leading crypto platforms.
Coinmerce, which has been registered with the Dutch Central Bank and has gained recognition for its secure and user-friendly platform, has reached an agreement with Binance to refer hundreds of thousands of Dutch users to its platform. This referral paves the way for Coinmerce to become the largest crypto platform in the Netherlands in terms of products, assets, and users, aligning with their core strategy of accessibility.
Dutch users of Binance will have the option to transfer their digital assets to Coinmerce at no cost. Coinmerce has assured users that they will receive full support and guidance throughout the transferring process, ensuring a smooth and hassle-free transition. To facilitate this, Binance will send an email to users, initiating a simple step-by-step process in collaboration with Coinmerce.
Nick Smits van Oyen, co-founder of Coinmerce, expressed pride in the partnership with Binance, emphasizing that they offer users an equivalent platform that complies with all European laws and regulations. The focus is on making the transition as easy as possible, with the utmost attention given to the needs of the users. Coinmerce’s CEO, Jaap de Bruijn, also underscored the importance of an orderly transition and emphasized the urgency of addressing users’ needs promptly. To achieve this, Coinmerce has implemented a controlled transition process to ensure the safe transfer of Dutch users’ crypto assets from Binance to their platform.
Binance has expressed confidence in Coinmerce, citing the secure environment they provide for users. The decision to partner with Coinmerce was influenced by the platform’s commitment to compliance with European regulations and its reputation as a trusted crypto service provider. By entrusting the referral process to Coinmerce, Binance aims to ensure that its Dutch users can continue trading cryptocurrencies with confidence and security.
Coinmerce, established in 2018, has not only set the standard for secure cryptocurrency trading and storage in the Netherlands but has also expanded its reach to 11 other countries. The partnership with Binance further solidifies their position as a leading crypto platform in Europe. With this development, Coinmerce is well-positioned to cater to the growing demand for cryptocurrency services in the Netherlands and beyond.
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