Cryptocurrency holders on Binance can now seamlessly exchange their digital assets and withdraw funds directly to their Mastercard accounts.
Binance Introduces New Crypto Withdrawal Feature for European Users
Binance, the world's largest cryptocurrency exchange, has announced the launch of a new Crypto Withdraw feature for users in Europe. This innovative service, powered by Mastercard Move, offers a faster, simpler, and more secure way to convert cryptocurrencies into fiat currency and withdraw funds directly to a linked Mastercard debit or credit card.
The Binance Mastercard Crypto Withdraw function enables near-real-time crypto-to-fiat access, bypassing the delays and complexities common in traditional bank withdrawals. Users in the European Economic Area and the United Kingdom can access this feature via the Binance website or app.
The process involves either selling crypto to convert it to euros and sending the euro balance to the Mastercard ("Sell to Card"), or withdrawing already converted euros from their Binance fiat balance to the Mastercard ("Withdraw to Card"). The transaction is completed in minutes, depending on the card-issuing bank's processing speed.
Compared to other withdrawal options such as regular bank transfers, the Mastercard withdrawal method is significantly faster and more convenient. Traditional withdrawals can take several business days, whereas Binance Mastercard withdrawals are near-instant, streamlining crypto off-ramping for everyday spending, online purchases, or ATM withdrawals.
This function improves the liquidity and accessibility of crypto assets for European users and competes strongly with other fiat withdrawal methods due to its speed and ease of use. Mastercard's secure and reliable payment network ensures that users can instantly convert digital assets into fiat with Binance Mastercard Crypto Withdraw.
Binance Vice President of Fiat, Thomas Gregory, stated that the new Sell to Card and Withdraw to Card features streamline and enhance the user experience. Mastercard's Executive Vice President, Global Partnerships, Scott Abrahams, expressed his excitement about bringing an enhanced payout experience to Binance users across Europe.
Binance, with nearly 300 million users, has garnered the trust of a vast global audience. The company remains committed to the highest standards of regulatory compliance and world-class security and user protection efforts. This new feature adds another convenient withdrawal option in addition to bank transfers and other supported methods, providing users with more choices and flexibility.
In summary, the Binance Mastercard Crypto Withdraw function offers a faster, more convenient, and more accessible way for European users to convert and withdraw their cryptocurrencies. This innovation underscores Binance's commitment to unlocking the true potential of crypto assets for everyday use.
[1] Binance Press Release, "Binance Launches New Crypto Withdraw Feature for European Users," link [2] Mastercard Press Release, "Mastercard and Binance Partner to Bring Enhanced Crypto Payouts to European Users," link [3] Binance Blog Post, "Introducing the Binance Mastercard Crypto Withdraw for European Users," link [4] CoinDesk Article, "Binance Partners with Mastercard to Offer Instant Crypto-to-Fiat Withdrawals in Europe," link [5] The Block Crypto Article, "Binance Launches Mastercard Crypto Withdrawal Service for European Users," link
- By partnering with Mastercard, Binance offers a convenient new option for European users to withdraw their cryptocurrencies as fiat currency, providing faster access and a simpler process compared to traditional bank transfers.
- This expansion of withdrawal methods showcases Binance's continued commitment to improving the liquidity and accessibility of cryptocurrencies, adding the Binance Mastercard Crypto Withdraw to its existing selection of bank transfer and other supported methods.
