Key Takeaways:
- Binance’s new Mastercard feature is part of a growing trend of exchanges embedding with traditional finance infrastructure.
- Only euro-based cards are supported for now, but additional currencies may follow pending regulatory and operational factors.
- Direct card payouts can reduce reliance on banking intermediaries, changing how users access crypto liquidity.
Binance users in Europe can now convert cryptocurrency to fiat and move the funds to a Mastercard in near real-time, according to a press release shared with Cryptonews.com.
The new feature, available on both the Binance website and app, is powered by Mastercard Move and expands the exchange’s fiat off-ramping options. Users can choose to either sell their crypto for fiat and send it to a Mastercard, or withdraw an existing euro balance directly to the card.
Binance Offers Euro Withdrawal Options
Thomas Gregory, Vice President of Fiat at Binance, said, “The new Sell to Card and Withdraw to Card features streamline and enhance the user experience, making payouts of crypto proceeds simpler and faster than ever for our users.”
Both options are currently limited to euro transactions, with support for additional fiat currencies expected in the future.
Gregory added, “Our goal is to continue expanding our services with global leaders and innovators in digital payments, like Mastercard, to widen access and possibilities for our broad global user base.”
Partnership with Mastercard Move
Scott Abrahams, executive vice president of Global Partnerships at Mastercard, said, “Through our global partnership with Binance, we are thrilled to bring an enhanced payout experience to Binance users across Europe, enabled through Mastercard Move.”
The feature offers an additional off-ramp alongside existing methods such as bank transfers. Binance said the rollout is part of its broader efforts to improve transaction efficiency and compliance while offering more options for everyday spending.
Regulatory clarity around crypto-to-fiat conversions remains uneven across jurisdictions. As exchanges partner with traditional payment networks, differences in local compliance standards could influence how widely similar services are deployed beyond Europe.
The rise of direct card-based withdrawals shows a shift in how crypto platforms approach consumer access. While such tools simplify spending, they also increase scrutiny from regulators and banks tasked with monitoring cross-border flows and ensuring adherence to anti-money laundering requirements.
Frequently Asked Questions (FAQs)
Real-time conversions to fiat may trigger immediate taxable events. Users should track transactions closely to remain compliant with local tax rules.
Possibly. Mastercard has ongoing collaborations across the crypto sector and may support similar services with additional platforms.
Exchanges that integrate smoother fiat access may gain a user retention edge, pushing others to upgrade their own payout systems.
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