Recent updates on Binance now enable European users to convert their crypto assets into fiat currency and withdraw these funds directly to a Mastercard.

Availability and Regions

Binance’s sell-to-card and withdraw-to-card services are now accessible in the EEA region and the UK. These new solutions leverage Mastercard Move technology, providing users with quick and secure ways to off-ramp their crypto assets. Users can choose between selling their assets for fiat and transferring these balances or withdrawing existing funds directly to a card.

Ease of Conversion

For converting crypto into fiat via the sell-to-card option, users can access this functionality through Binance’s ‘Buy & Sell Crypto’ page. By selecting the cryptocurrency they wish to receive and entering the desired amount, users need only pick ‘Card’ as their payment method before proceeding with a few simple steps.

Similarly, for withdrawals to card, users follow a comparable process on the same page but select ‘Withdraw.’ They can then choose their currency, input the amount, and complete the transaction following the on-screen instructions.

Purposes and Benefits

Binance’s new features are designed to simplify the conversion of crypto into cash for daily spending or quick access to funds. This service benefits users holding crypto who wish to convert their assets promptly, with support currently available for EUR-based payouts. Future plans include expanding currency options.

The alliance between Binance and Mastercard aims to enhance the overall user experience by integrating digital payment expertise, making crypto more accessible as a daily-use asset. This partnership underscores the growing potential of crypto in everyday transactions.