Binance Mastercard Crypto Withdraw is now live for European users, providing near-real time crypto-to-fiat access. In addition to the current payout and bank transfer options, the new Sell to Card and Withdraw to Card features allow users to move money more quickly and easily.
The new “Buy & Sell” service, available on both the Binance website and app, is powered by Mastercard Move, Mastercard’s portfolio of money movement solutions. The feature lets users choose to either sell their crypto and transfer the fiat balances to their card or withdraw their existing fiat balance to Card. It streamlines off-ramping by offering a fast, simple and secure way to access funds, adding another convenient withdrawal option in addition to bank transfers and other supported methods.
Sell to Card vs Withdraw to Card on Binance
Aspect
Sell to Card Feature
Withdraw to Card Feature
Primary
Function
Convert cryptocurrency to desired fiat,
directly sending fiat to a linked and eligible
card with near-real time funds availability*
Withdraw existing Euro
balance directly to card with
near-real time funds
availability*
Use Case
For users holding crypto who want to
immediately cash out
For users who already have a
Euro balance on Binance and
want to withdraw it
Currency
Supported
Currently available for Euro-based payouts,
with support for more fiat currencies coming
soon
Euro-based payouts only
“At Binance, we are proud of our focus on users which has garnered the trust of nearly 300 million users and continue to further the experience for them,” said Binance Vice President of Fiat, Thomas Gregory. “The new Sell to Card and Withdraw to Card features streamline and enhance the user experience, making payouts of crypto proceeds simpler and faster than ever for our users.”
“Our goal is to continue expanding our services with global leaders and innovators in digital payments, like Mastercard, to widen access and possibilities for our broad global user base. We are looking forward to supporting additional products and features and we remain committed to the highest standards of regulatory compliance along with our world-class security and user protection efforts.”
“Mastercard is committed to unlocking the true potential of crypto assets for everyday use. Through our global partnership with Binance, we are thrilled to bring an enhanced payout experience to Binance users across Europe, enabled through Mastercard Move,” said Scott Abrahams, executive vice president, Global Partnerships, Mastercard.
With Binance Mastercard Crypto Withdraw, Mastercard’s secure and reliable payment network enables users to instantly convert digital assets into fiat.