Binance has rolled out a new feature for its European customers that allows them to convert cryptocurrency into fiat currency and transfer or withdraw the funds directly to an eligible Mastercard in near real time.
It is intended to speed up and simplify off-ramping, the process of converting cryptocurrency into spendable cash.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The new feature is accessible via Binance’s “Buy & Sell” service on both its website and mobile app. It is driven by Mastercard Move, the payment giant’s array of money transfer products. Users can either sell cryptocurrency and have the fiat balance transferred directly to their card or remove an existing fiat balance from their card.
According to Binance, the functionality provides a quick, easy, and safe way to access funds, serving as an alternative to traditional bank transfers and other withdrawal methods.
Thomas Gregory, Binance’s Vice President of Fiat stated: “At Binance, we are proud of our focus on users which has garnered the trust of nearly 300 million users and continue to further the experience for them. 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.”
Gregory also 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. We are looking forward to supporting additional products and features and we remain committed to the highest standards of regulatory compliance along with our world-class security and user protection efforts.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataScott Abrahams, executive vice president, Global Partnerships, Mastercard shared: “Mastercard is committed to unlocking the true potential of crypto assets for everyday use. Through our global partnership with Binance, we are thrilled to bring an enhanced payout experience to Binance users across Europe, enabled through Mastercard Move.”
With crypto adoption growing in Europe, Binance’s latest move is likely to appeal to users seeking faster and easier ways to access their digital assets for real-world spending.
