Binance Restores Mastercard Payments for Crypto Transactions
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Binance, the world’s largest cryptocurrency exchange, has reinstated Mastercard payments for cryptocurrencies, according to a report by Coindesk.
In addition, Binance has confirmed that its Binance-branded Visa card continues to facilitate crypto transactions.
Mastercard has decided to allow crypto deposits and payments on Binance once again after conducting a thorough review of the exchange’s stringent controls and processes.
A Binance representative commented on the development, highlighting the possibility of introducing additional features such as withdrawals in the future.
In a related move, Binance announced that its Visa card, branded with the exchange’s logo, remains operational and supports crypto payments alongside Mastercard.
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This development comes after Mastercard and Visa terminated their card partnership with Binance last August, primarily due to the exchange’s regulatory challenges globally.
Visa had already ceased issuing new co-branded cards with Binance in Europe by July, as confirmed by a Binance spokesperson to Bloomberg.