Binance Links Crypto to Mastercard for Faster Euro Withdrawals

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Binance has rolled out a new feature allowing its European customers to convert cryptocurrency into euros and transfer the funds directly to a Mastercard in near real time. The launch reflects a broader shift in the digital asset industry, with major exchanges increasingly embedding into established financial networks, a move that is also drawing heightened regulatory scrutiny.

The service is now available on both the Binance website and mobile app, powered by Mastercard Move, a payment solution designed to speed up transfers. Users have two options: they can sell cryptocurrency for euros and send the proceeds straight to a Mastercard, or withdraw an existing euro balance directly to the card. By reducing dependence on traditional banking intermediaries, the integration offers users faster access to their funds, potentially changing how they interact with their digital assets.

Thomas Gregory, Vice President of Fiat at Binance, said the “Sell to Card” and “Withdraw to Card” features are aimed at simplifying the process for everyday transactions. “These tools streamline and enhance the user experience, making payouts of crypto proceeds simpler and faster than ever for our users,” Gregory explained. At present, the service only supports euro transactions, but Binance has indicated it plans to add more fiat currencies (government-issued money) in the future, depending on regulatory and operational conditions.

Scott Abrahams, Executive Vice President of Global Partnerships at Mastercard, described the integration as a step toward improving how digital assets can be accessed and spent. “Through our global partnership with Binance, we are thrilled to bring an enhanced payout experience to Binance users across Europe, enabled through Mastercard Move,” he said.

The update adds another off-ramping method, industry jargon for converting crypto into spendable fiat currency, alongside options such as traditional bank transfers. Binance has framed this rollout as part of a larger push to boost transaction efficiency, user choice, and compliance standards.

Yet, as crypto platforms increasingly tie into traditional payment networks, they must navigate complex compliance requirements. Regulatory clarity around crypto-to-fiat conversions still varies widely between jurisdictions, meaning any expansion beyond Europe could face significant hurdles. Financial watchdogs and banks are expected to keep a close eye on these services to ensure adherence to anti–money laundering (AML) rules and monitoring of cross-border transactions.

This shift toward direct card-based withdrawals could intensify competition in the crypto payments space. Platforms offering faster, smoother access to fiat may win greater user loyalty, potentially pushing rivals to upgrade their systems. However, while the convenience factor is high, the move also makes the industry more visible to regulators, who are unlikely to loosen oversight anytime soon.