NEW YORK—Binance, the world’s largest cryptocurrency exchange, will once again allow its customers to purchase cryptocurrencies using Mastercard, according to a new report.
Binance has resumed cryptocurrency purchases via bank transfers using Mastercard debit and credit cards for “smooth transactions.”
In 2023, both Visa and Mastercard ended their relationships with Binance citing concerns around financial compliance within the crypto industry. The company’s reengagement would seem to indicate its compliance concerns have been satisfied.
‘Buy Crypto’ Reenabled
On the Binance platform, the “buy crypto” options via Mastercard have been reenabled, with a maximum one-time purchase of up to 5,000 euros, worth approximately $5,440 for euro-based transactions, and up to $20,000 for United States dollar-based purchases, Cointelegraph reported.
The world’s largest exchange plans to add more regulated fiat payment providers in the future for more “intuitive” crypto purchases, a Binance spokesperson told Cointelegraph.
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