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Payment giants started to provide services again on Binance.
Binance announced that Mastercard and Visa cards have started to be used again in crypto payment services.
Making a statement on X, Binance announced that #Mastercard , Visa or SEPA supported cards are now available for use on the platform for purchasing cryptocurrencies. In the statement made by the #Binance spokesperson, it was stated that the platform has gone through a detailed review process in recent months and as a result of the studies, Binance-related purchases have been allowed again.
Mastercard and Visa terminated their relationship with Binance after Binance was sued by the US SEC and CFTC last year. First, Mastercard decided to stop its cooperation with #Binance in Argentina, Brazil, Colombia and Bahrain in August last year. Binance was then forced to terminate its Visa-related program in the European Economic Area in October.
Following the restrictions, crypto purchases with Mastercard were reactivated on Binance. Currently, users will be able to purchase crypto up to 5,000 euros in euros and up to 20,000 dollars in dollars using their cards with the Mastercard logo.
On the other hand, Mastercard and Visa's change of approach towards Binance was interpreted as an important step towards overcoming the regulatory difficulties of the crypto exchange. While Binance's re-collaboration with global payment giants is considered to be an effect that will increase sales volume, it is thought that this move will be effective for Binance to increase its market share.
Binance announced that Mastercard and Visa cards have started to be used again in crypto payment services.
Making a statement on X, Binance announced that #Mastercard , Visa or SEPA supported cards are now available for use on the platform for purchasing cryptocurrencies. In the statement made by the #Binance spokesperson, it was stated that the platform has gone through a detailed review process in recent months and as a result of the studies, Binance-related purchases have been allowed again.
Mastercard and Visa terminated their relationship with Binance after Binance was sued by the US SEC and CFTC last year. First, Mastercard decided to stop its cooperation with #Binance in Argentina, Brazil, Colombia and Bahrain in August last year. Binance was then forced to terminate its Visa-related program in the European Economic Area in October.
Following the restrictions, crypto purchases with Mastercard were reactivated on Binance. Currently, users will be able to purchase crypto up to 5,000 euros in euros and up to 20,000 dollars in dollars using their cards with the Mastercard logo.
On the other hand, Mastercard and Visa's change of approach towards Binance was interpreted as an important step towards overcoming the regulatory difficulties of the crypto exchange. While Binance's re-collaboration with global payment giants is considered to be an effect that will increase sales volume, it is thought that this move will be effective for Binance to increase its market share.
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