Binance is once again offering its customers the opportunity to purchase cryptocurrencies using Visa and Mastercard. The exchange announced this on June 6 on the X social network.
Users can now purchase cryptocurrency on the Binance platform using their Visa, Mastercard and SEPA bank cards. However, the maximum single purchase limit is €5,000 (approximately $5,440) for Euro transactions and up to $20,000 for US dollar purchases.
This comes after Binance shut down its Visa debit card services in the European Economic Area (EEA) late last year. The Binance Visa Debit Card allowed users to convert cryptocurrency in their Binance accounts into local currency and use it to pay for purchases in stores and online.
However, in September of the same year, Mastercard also ended its partnership with Binance in Argentina, Brazil, Colombia and Bahrain. These events occurred against the backdrop of regulatory pressure on Binance from US authorities.
In June 2023, the US Securities and Exchange Commission (SEC) filed 13 charges against Binance, accusing the exchange of misappropriating customer funds and conducting unregistered securities offerings. Three months earlier, the Commodity Futures Trading Commission (CFTC) sued Binance for failing to register with it and for violating many of its guidelines.
Despite regulatory concerns, the resumption of cryptocurrency purchases through Visa and Mastercard on the Binance platform demonstrates the exchange's efforts to maintain its services and provide its customers with convenient cryptocurrency purchasing options.
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