Binance and Mastercard resumes cooperation

Binance has announced the resumption of its partnership with Mastercard, a multinational payment system. This renewed collaboration follows the successful resolution of various issues between Binance and the U.S. authorities. As a result, Binance and Mastercard will once again issue crypto cards, enabling customers to make deposits and buy crypto.

Binance users can once again buy crypto and make deposits with Mastercard.

Additionally, users will soon be able to withdraw funds to bank accounts and other payment cards. Binance has pledged to release a list of countries where these payment services will become available shortly.

The resumption of the partnership was preceded by a thorough analysis of Binance’s platform infrastructure by Mastercard specialists. They assessed the security of payments to ensure adherence to necessary standards. Binance emphasised that it continues to invest substantial resources to maintain the highest compliance standards.

The payment giant had suspended its cooperation with Binance in August last year following lawsuits from the U.S. Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) against Binance.

Visa also has now resumed its partnership with Binance, allowing customers to once again use Visa cards to purchase digital assets.

Additionally, Binance representatives have announced that the company’s services and products are accessible within the Single Euro Payment Area (SEPA) again. Previously, the platform had been restricted from access to the euro payment gateway when Paysafe Payment Solutions decided to end their cooperation.

Earlier, Binance cautioned its users about various restrictions due to the introduction of new stablecoin regulations in the European Economic Area. Meanwhile, Mastercard launched a pilot project aimed at simplifying digital asset transactions.

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