Binance Revives Partnership with Mastercard and Visa for Cryptocurrency Transactions!
In a significant development, Binance, the leading cryptocurrency exchange globally, has reinstated the option for users to make payments using Mastercard for cryptocurrencies.
As per reports from Coindesk, Binance has also confirmed that its Binance-branded Visa card is once again operational for crypto transactions.
In light of this, Mastercard will be continuing to offer its services for cryptocurrency deposits and payments on the Binance platform.
A spokesperson from Binance shared with Coindesk, stating, “Following a comprehensive evaluation of the robust controls and processes implemented by Binance, Mastercard has decided to permit transactions related to Binance on its network. We are excited to introduce support for additional features, such as withdrawals, at a later stage. Alongside Mastercard, the Binance-branded Visa card has also resumed its functionality on the exchange, enabling users to make payments using Mastercard as well.”
Last year, Mastercard and Visa had ended their partnerships with Binance amidst regulatory challenges faced by the exchange globally. However, Binance clarified to Bloomberg that Visa had ceased issuing new cards co-branded with Binance in Europe from July.
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