in

Visa and Mastercard Maintain Support for Binance Amid Regulatory Issues

Visa and Mastercard Maintain Support for Binance Amid Regulatory Issues


Although numerous banking organizations have restricted their users from interacting with Binance, Visa and Mastercard have reaffirmed their belief in the world’s largest crypto exchange.

  • With the growth of its services and popularity, Binance attracted regulatory scrutiny from various global watchdogs, as CryptoPotato explained recently.
  • While the exchange’s attempts to enhance its compliance requirements continue with the employment of new personnel, some financial organizations have halted doing business with it.
  • Those include a few European giants like Barclays and Santander. However, the US multinational financial services behemoths, Visa and Mastercard, have a more favorable approach.
  • According to a Financial Times report, Visa is in a “dialogue with Binance to monitor developments” as the company is aware of the ongoing issues with watchdogs, including the UK’s Financial Conduct Authority (FCA).
  • On the other hand, Mastercard noted, “we continue to monitor this situation, including how the exchanges fulfill their regulatory requirements.”
  • As of now, though, neither firm plans to stop their customers from sending funds to their Binance accounts with their cards.
  • Additionally, the exchange has an ongoing partnership with Visa as it launched a Visa-branded debit card available to customers from many of the countries where the scrutiny is coming from. However, the US-based financial company explained that it wouldn’t stop supporting it.
SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

What do you think?

Italy Becomes 7th Nation to Issue Regulatory Warning Against Binance

Italy Becomes 7th Nation to Issue Regulatory Warning Against Binance

Here’s How Low Ethereum Could Fall in Coming Weeks, According to Prominent Analyst

Here’s How Low Ethereum Could Fall in Coming Weeks, According to Prominent Analyst