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 now allows Mastercard users to purchase cryptocurrencies on the exchange again, after the financial card giant shut down this feature in August 2023. Binance stated that in addition to allowing payments through Mastercard, the Visa card under the Binance brand will also be reissued.
Last year, when Mastercard decided to part ways with Binance, Binance was facing legal challenges in the United States, including multiple charges from the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
A Binance spokesperson stated via email: