According to a report by CoinDesk, it is understood that Mastercard is resuming cryptocurrency payment and deposit services on the Binance exchange, but withdrawal services have not yet been restored.
Binance can now allow Mastercard users to purchase cryptocurrencies on the exchange again, after the financial card giant shut down this feature in August 2023. Binance also stated that in addition to allowing payments through Mastercard, Visa cards under the Binance brand will also be reissued.
Related report: “Global Payment Giants Urgently Cut Ties? Visa, Mastercard Terminate Partnership with Binance”
When Mastercard decided to part ways with Binance last year, Binance was facing legal challenges in the United States, including multiple allegations from the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
A Binance spokesperson stated via email:
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