Binance Restores Mastercard Payments for Crypto Transactions

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.

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.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.