Binance has reestablished its partnership with Mastercard and Visa for cryptocurrency payments, as reported by Coindesk. The world’s largest cryptocurrency exchange announced that Mastercard payments for cryptocurrencies are now active again, along with the acceptance of crypto payments through its Binance-branded Visa card.
In a statement to Coindesk, a Binance spokesperson mentioned that Mastercard has approved cryptocurrency deposit and payment services on their network after reviewing the strict controls and processes put in place by Binance. The spokesperson also noted that they plan to introduce support for other products, such as withdrawals, at a later date.
Last August, both Mastercard and Visa had ended their card partnership with Binance due to regulatory concerns. However, with the recent developments, Mastercard has resumed its services with Binance, and the Binance-branded Visa card is once again functional on the exchange, allowing users to make payments using both Mastercard and Visa.
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