According to Coindesk news, Binance, the world's largest cryptocurrency exchange, has reactivated Mastercard payments for cryptocurrencies.
Binance also announced that its Binance-branded Visa card continues to accept crypto payments.
Accordingly, MasterCard will continue its cryptocurrency deposit and payment services at Binance.
A Binance spokesperson told Coindesk:
“After a thorough review of the stringent controls and processes Binance has put in place, Mastercard has made the decision to allow Binance-related purchases on its network.
We look forward to adding support for other products, such as withdrawals, at a later date.
Apart from Mastercard, the Binance-branded Visa card has also resumed functionality on the exchange, in addition to allowing payments using Mastercard.”
Mastercard and Visa ended their card partnership with Binance, the world's largest cryptocurrency exchange, last August.
While it was stated that Binance's problems with regulators around the world were behind these moves by Mastercard and Visa, a Binance spokesperson told Bloomberg that Visa stopped issuing new cards co-branded with Binance in Europe as of July.
*This is not investment advice.
