The integration of cryptocurrency platforms with traditional payment networks marks a significant evolution in digital asset accessibility. Binance, a leading cryptocurrency exchange, has recently expanded its services across Europe and the UK, enabling direct crypto-to-fiat withdrawals to eligible Mastercard accounts. This strategic move, powered by Mastercard Move, streamlines the off-ramping process for digital assets, enhancing liquidity and usability for millions of users.
- Binance has launched direct crypto-to-fiat withdrawals to eligible Mastercard accounts in Europe and the UK.
- The new “Buy & Sell” functionality, powered by Mastercard Move, initially supports Euro-based payouts.
- Users can sell cryptocurrency to receive fiat on their Mastercard or withdraw existing fiat balances from Binance to their card.
- The initiative aims to simplify user experience, offering faster and more secure conversions of digital assets.
This new “Buy & Sell” functionality allows users to convert their cryptocurrency holdings into fiat currency, specifically Euro-based payouts initially, and then directly transfer these funds to their Mastercard debit or credit cards. The feature supports both selling crypto to receive fiat on a card and withdrawing existing fiat balances from a Binance account directly to a card. This development is designed to simplify the user experience, offering a faster and more secure method for converting digital assets into spendable funds compared to traditional bank transfers or other methods.
According to Thomas Gregory, Vice President of Fiat at Binance, this initiative reflects a continued focus on user experience and expanding service offerings through collaborations with global digital payment innovators like Mastercard. With nearly 300 million global users, Binance aims to broaden access and possibilities for managing digital wealth. Scott Abrahams, Executive Vice President of Global Partnerships at Mastercard, reinforced this sentiment, emphasizing the company’s commitment to unlocking the true potential of crypto assets for everyday utility and improving payout experiences for users.
Europe’s Push for Digital Identity
Parallel to advancements in crypto-fiat pathways, Europe is moving decisively towards a standardized digital identity framework. The proposed European Digital Identity (EUDI) Wallet, anticipated to launch, seeks to streamline identity verification processes across the bloc. Mastercard views digital identity as a critical complement to seamless payment experiences, akin to the natural and reliable nature of making a payment. The European Commission projects that approximately 80% of EU citizens will utilize EUDI Wallets by 2030 for routine tasks, including secure authentication.
The imperative for robust digital identity solutions is underscored by prevalent challenges in the online landscape. Data from the EU Agency for Cybersecurity indicates that identity theft accounts for over 40% of online fraud within the EU. Furthermore, more than 60% of Europeans encounter difficulties with online identity verification, often leading to abandoned transactions. Mastercard is actively engaged in developing Europe’s digital identity ecosystem, contributing to initiatives funded by the European Commission that pilot EUDI Wallets and partnering with innovators like Lissi to integrate payment credentials securely.
Addressing the need for a trusted and consistent method of identity verification for over 500 million Europeans accessing financial services and government portals, Mastercard has forged strategic alliances with organizations such as EMVCo, the FIDO Alliance, and the OpenWallet Foundation, hosted by Linux Foundation Europe. These collaborations aim to build a secure and universally trusted global identity ecosystem, further enhancing the security and efficiency of digital transactions across various sectors, including the rapidly evolving digital asset space.
JUST IN: Binance users in Europe can now convert crypto to fiat and withdraw funds directly to eligible Mastercard cards. pic.twitter.com/aANf1x6Woo
— Cryptopolitan (@CPOfficialtx) August 7, 2025
Blockchain developer and writer, Daniel combines hands-on coding experience with accessible storytelling. He holds multiple blockchain certifications and authors technical explainers, protocol deep-dives, and developer tutorials to help readers navigate the intersection of code and finance.