Crypto exchange Binance has rolled out a new feature allowing users in Europe and the UK to directly withdraw cryptocurrencies to their Mastercard. This new option enables users to convert their crypto assets into fiat currencies and send the funds instantly to their payment cards.
The service, part of Binance’s “Buy & Sell” section, is now available both on the website and in the mobile app, powered by Mastercard Move technology. The goal is to simplify money management and improve the user experience in crypto-fiat conversions.
Mastercard: Fast, Secure, and Easy Crypto Payouts
Mastercard clarified that the new feature allows users to sell crypto assets and instantly withdraw fiat balances to a card. It provides an efficient way to liquidate digital assets quickly and securely for users throughout Europe and the UK.
Currently, the feature supports euro transactions, with more fiat currencies expected soon. The card withdrawal method complements existing options like bank transfers, expanding the flexibility for managing funds.
Mastercard explained that the “Sell to Card” function is ideal for users looking to swiftly cash out their virtual currencies, while the “Withdraw to Card” feature targets users who already hold fiat in their Binance accounts and want fast, direct access to their funds via a debit or credit card.
Binance: Making Payouts Smoother Than Ever
Thomas Gregory, Binance’s VP of Fiat, commented:
“We’re proud of our user-centric approach, which has earned the trust of nearly 300 million users worldwide. With 'Sell to Card' and 'Withdraw to Card', we’re streamlining the crypto payout experience to make it easier and faster than ever.”
He added that Binance plans to continue partnering with global leaders in digital payments like Mastercard to expand service availability and user options worldwide.
Gregory also emphasized Binance’s ongoing commitment to compliance, security, and user protection, as the company looks to introduce more features and products in the near future.
Mastercard Supporting Europe’s Digital Identity Vision
This rollout aligns with a broader European initiative focused on digital identity. On Monday, the EU plans to launch the European Digital Identity Wallet (EUDI) — a unified platform for secure, streamlined identity verification.
Mastercard is playing an active role in the development, believing that digital identity should be as seamless and natural as making a payment. The European Commission expects that by 2030, nearly 80% of EU citizens will use EUDI for daily tasks.
Mastercard is contributing to several EU-funded pilot projects and helping develop features such as age verification and identity protection. It has partnered with identity tech firm Lissi to safely tokenize payment data and integrate it into EUDI wallets.
Identity, Security & What’s Next
According to EU cybersecurity data, identity theft accounts for over 40% of all online fraud, and more than 60% of Europeans struggle with identity verification, leading to incomplete or abandoned online transactions.
Mastercard believes that Europe urgently needs a reliable and consistent method of verifying identity across services — from banking and e-commerce to public sector portals. To this end, it is collaborating with global standards groups like FIDO Alliance, EMVCo, and the OpenWallet Foundation, hosted by Linux Foundation Europe, to help build a secure, interoperable digital identity ecosystem.
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