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CDS Crypto News Binance and Mastercard Reunite: Crypto Payments Back in Business

Crypto News

Binance and Mastercard Reunite: Crypto Payments Back in Business

Ecem EFE06/06/20241 Mins read344

Binance And Mastercard Reunite: Crypto Payments Back In Business

Binance and Mastercard Reopen Crypto Payment Channels: Users Rejoice

Crypto News- Good news for crypto enthusiasts: Binance and Mastercard have patched things up, allowing Mastercard users to dive back into the world of cryptocurrencies on the renowned exchange. This decision comes after Mastercard disabled crypto purchases on Binance last August, amidst the exchange’s legal troubles in the U.S. – a time when it was under heavy fire from the SEC and CFTC.

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After a thorough evaluation of Binance’s revamped controls and processes, Mastercard has given the green light for Binance-related transactions on its network. A Binance spokesperson expressed their anticipation for future expansions, hinting at potential support for withdrawals down the road.

It’s not just Mastercard; both Visa and Mastercard are showing keen interest in the crypto sphere, aligning themselves with the Web3 movement and the rise of self-custody wallets. Exciting times ahead for the crypto community!

FAQs

Why did the collaboration between Binance and Mastercard halt?

The cessation of collaboration between Binance and Mastercard was prompted by Binance’s legal troubles in the U.S., particularly various charges levied by the SEC and CFTC. This occurred in August 2023.

Why did Mastercard resume collaboration with Binance?

After a thorough review of Binance’s enhanced controls and processes, Mastercard decided to resume support for Binance-related purchases. Binance’s upgraded security measures and audit processes played a significant role in Mastercard’s decision.

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Ecem EFE

Since 2022, Ecem has been creating digital content, combining her passion for technology with writing. Continuing her education in the Mathematics department, Ecem focuses on producing in-depth content on areas such as blockchain, artificial intelligence, and cryptocurrency. She aims to simplify these topics and present them to a wide audience, sharing valuable insights into the crypto industry through her writing. With her innovative content, she strives to raise awareness in the digital world.