Binance, the largest cryptocurrency exchange in the world, has once again opened the option for its customers to buy cryptocurrencies using Mastercard.
According to a post on June 6, Binance has resumed cryptocurrency purchases via bank transfers using Mastercard debit and credit cards to ensure smooth transactions.
On the Binance platform, customers can now use Mastercard to buy cryptocurrencies with a maximum one-time purchase limit of up to 5,000 euros, which is approximately $5,440 for euro-based transactions, and up to $20,000 for United States dollar-based purchases.
The exchange is also planning to introduce more regulated fiat payment providers in the future to make crypto purchases more user-friendly. A spokesperson for Binance informed Cointelegraph about this development.
Binance had previously stopped offering Visa debit card services in the European Economic Area (EEA) on Dec. 20, 2023. This move came shortly after the exchange had restored euro deposits and withdrawals, which had been suspended for a month after payments processor Paysafe terminated its partnership with Binance.
Mastercard had also ended its partnership with Binance in a few countries back in September. These actions followed regulatory troubles for Binance, including charges by the United States Securities and Exchange Commission and the Commodity Futures Trading Commission.
Despite facing regulatory challenges, Binance seems to be moving towards resolving its issues, as indicated by the reintroduction of Mastercard-based cryptocurrency purchases. The exchange recently settled with the U.S. government, agreeing to pay a record-breaking fine of $4.3 billion and seeing its founder, Changpeng Zhao, step down as CEO.
Zhao was sentenced to four months in prison and a $50-million fine in relation to money laundering charges at his exchange. He is currently serving his sentence in California and plans to continue his involvement in the crypto space upon his release.
In the midst of all this, news about a meme coin linked to Caitlyn Jenner has also surfaced, revealing a price list of celebrities associated with the project.