Instant Mastercard cash-outs now available on Binance platform
Binance Introduces Quick and Secure Crypto-to-Fiat Withdrawal for European Users
Binance, the world's leading cryptocurrency exchange, has announced the launch of its new Sell to Card and Withdraw to Card features for European users. These innovative services, powered by Mastercard Move, enable users to convert their cryptocurrency holdings into fiat currency (e.g., euros) and transfer or withdraw those funds directly to an eligible Mastercard with near real-time availability.
With these new features, users can streamline the off-ramping process, making it faster, simpler, and more secure for users to access their funds for spending, online purchases, or ATM withdrawals. To use these options, European users log into their Binance account, navigate to the 'Buy & Sell Crypto' section, choose 'Sell' or 'Withdraw', select or link an eligible Mastercard, complete security verifications, and confirm the transaction.
The Sell to Card feature allows users to select which crypto asset they wish to sell, convert it to fiat, and then transfer the fiat funds to their linked Mastercard. On the other hand, the Withdraw to Card option caters to users who already have fiat balances on Binance, enabling them to withdraw those balances directly to their Mastercard.
Mastercard's Executive Vice President, Global Partnerships, Scott Abrahams, expressed his excitement about the collaboration, stating, "Mastercard is committed to unlocking the true potential of crypto assets for everyday use, and we're thrilled to bring an enhanced payout experience to Binance users across Europe, enabled through Mastercard Move."
Binance's Vice President of Fiat, Thomas Gregory, added, "The new features streamline and enhance the user experience, making payouts of crypto proceeds simpler and faster than ever for users."
This move reflects growing integration between crypto exchanges and traditional finance infrastructure in Europe, increasing ease of converting crypto assets to usable fiat funds. As cryptocurrency adoption continues to grow 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.
Binance remains committed to the highest standards of regulatory compliance and security throughout this service. The company's focus on users has garnered the trust of nearly 300 million users, and it continues to strive to further enhance the user experience.
Sources: 1. Binance Blog: Introducing Sell to Card and Withdraw to Card 2. Mastercard News: Mastercard and Binance Collaborate to Offer Fast, Secure Crypto-to-Fiat Payments 3. CoinDesk: Binance Launches Crypto-to-Fiat Withdrawal Service in Europe 4. Decrypt: Binance's New Withdrawal Feature Lets European Users Convert Crypto to Fiat and Send it to Their Mastercard 5. Yahoo Finance: Binance Launches Crypto-to-Fiat Withdrawal Service in Europe
- Binance's introduction of the 'Sell to Card' and 'Withdraw to Card' features, employing AI technology through Mastercard Move, underscores the integration of digital assets in the finance industry, offering European users a quick and secure method to convert cryptocurrencies into fiat currency, compliant with industry standards.
- The collaboration between Binance and Mastercard aims to unlock the potential of digital assets for everyday use, demonstrating the significant role of technology in facilitating the seamless conversion of crypto assets to usable fiat funds, enhancing user experience and providing faster methods for real-world spending.
- As Binance continues to focus on regulatory compliance and security, the new 'Sell to Card' and 'Withdraw to Card' features assert the exchange's commitment to providing users with a safe and efficient way to access their digital asset funds in the finance industry.
