Binance, a leading blockchain ecosystem and cryptocurrency infrastructure provider, has enabled the conversion of crypto to fiat with direct payouts with Mastercard Move.
Powered by “Mastercard Move,” the card network’s global money-movement platform, the “Buy & Sell” service allows users to convert their crypto into fiat currency, enabling direct withdrawals with an eligible Mastercard.
“Mastercard is committed to unlocking the true potential of crypto assets for everyday use,” said Scott Abrahams, executive vice president, Global Partnerships, Mastercard.
“Through our global partnership with Binance, we are thrilled to bring an enhanced payout experience to Binance users across Europe, enabled through Mastercard Move.”
The move follows Binance’s commitment to increasing global financial inclusion through decentralised finance.
In a recent interview with Mastercard, Richard Teng, CEO of Binance, said cryptocurrency is a method to improve financial access.
“Binance’s vision from day one is to support the freedom of money globally … People should have the ability to make use of their money in the fashion that they wish to, wherever they wish to,” said Teng.
Binance vice president of fiat, Thomas Gregory, said similarly: “Our goal is to continue expanding our services with global leaders and innovators in digital payments, like Mastercard, to widen access and possibilities for our broad global user base.”
