Binance can once again allow Mastercard users to purchase cryptocurrencies on the world's largest exchange, after the card giant switched off that capability in August of 2023. Binance-branded Visa card has also resumed functionality on the exchange.
Following an extensive review of the rigorous controls and processes that Binance put into place, Mastercard made the decision to allow Binance-related purchases on its network. We look forward to adding support for further products, such as withdrawals, at a later date.
Last year's decision by the card networks to part ways with Binance happened around the time the exchange was grappling with legal challenges in the U.S., including multiple charges by the U.S. Securities and Exchange Commission (SEC) and U.S. Commodity Futures Trading Commission (CFTC).
Both Visa and Mastercard are enthusiastic about crypto these days, delivering into the Web3 and self-custody wallet space.
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