Binance, the largest cryptocurrency exchange platform in the world by transaction volume and number of users, has announced a new feature aimed at simplifying the lives of European users.
Starting today, it will be possible to easily convert your cryptocurrencies into fiat currency and transfer or withdraw the funds directly to an eligible Mastercard, with almost immediate availability.
This innovation marks another step forward in the integration between the world of crypto and traditional payments, facilitating daily operations for millions of people.
A simple and quick solution to spend crypto in Europe thanks to Binance
The new feature, called “Buy & Sell,” is already active on both the website and the Binance app.
Thanks to the collaboration with Mastercard Move – Mastercard’s money transfer solutions portfolio – users can now choose between two main modes.
Sell their cryptocurrencies and transfer the fiat balance directly to the card, or withdraw the fiat balance already present in the Binance account to their Mastercard.
This double option allows for simplifying the off-ramping process, which is the conversion of cryptocurrencies into traditional money, offering a fast, secure, and intuitive alternative compared to traditional methods such as bank transfers.
The new features introduced by Binance are divided into two distinct services, designed to meet different needs:
Sell to Card
- Main function: allows direct conversion of cryptocurrencies into fiat currency (currently euro) and to send the fiat balance to the linked Mastercard, with availability of funds in real-time or almost.
- Utility: ideal for those who hold crypto and wish to liquidate them quickly, converting them into euros to spend immediately via card.
- Supported currency: for now only euro, but Binance has announced that other fiat currencies will soon be available.
Withdraw to Card
- Main function: allows you to withdraw the balance in euros already present on the Binance account and transfer it directly to the Mastercard, always with almost immediate availability.
- Utility: designed for those who have already converted crypto into euros and simply want to transfer the money to their card to use it as they prefer.
- Supported currency: currently only euro.
An increasingly smooth and secure user experience
According to Thomas Gregory, Vice President of Fiat for Binance, this innovation represents a further step forward in the company’s mission to put the user at the center:
“We are proud of our user focus, which has allowed us to gain the trust of nearly 300 million people. The new Sell to Card and Withdraw to Card features simplify and enhance the experience, making payments from the sale of crypto easier and faster than ever.”
Gregory also emphasized Binance’s commitment to expanding its services in collaboration with world leaders in digital payments like Mastercard, with the goal of offering more and more options and ensuring the highest standards of security and regulatory compliance.
Mastercard has also expressed great satisfaction with this collaboration. Scott Abrahams, executive vice president for global partnerships at Mastercard, stated: “Mastercard is committed to unlocking the true potential of crypto assets for everyday use.
Thanks to our global partnership with Binance, we are excited to offer an enhanced payment experience to European Binance users, made possible by Mastercard Move”.
Towards a new era for cryptocurrencies in Europe
The introduction of these new features represents a significant step towards greater integration between the world of cryptocurrencies and that of traditional payments.
European users of Binance can now enjoy greater flexibility in managing their funds, being able to convert and spend crypto immediately and securely, directly through their Mastercard.
This innovation not only simplifies the lives of users but also helps to reduce the barriers to the adoption of cryptocurrencies, making their use in everyday life easier and more accessible.
With nearly 300 million users and a global presence, Binance thus confirms its role as a leader in financial innovation, while Mastercard establishes itself as a strategic partner in the evolution of digital payments.
Binance has already announced the intention to extend support to other fiat currencies beyond the euro, further expanding the possibilities for its users.
The company has also reiterated its commitment to security, user protection, and regulatory compliance, fundamental elements to ensure trust and sustainable growth of the sector.
In conclusion, the new integration between Binance and Mastercard represents a concrete example of how technology can make access to one’s funds simpler, faster, and more secure, bringing the world of crypto closer to that of traditional finance.
European users now have an additional tool to manage their resources in a flexible and innovative way, paving the way for new opportunities for the entire cryptocurrency ecosystem.
