Binance has launched crypto-to-Mastercard withdrawals in Europe and the UK

Binance cryptocurrency exchange has launched crypto-to-Mastercard withdrawals for European and UK users. Users can now convert their crypto into fiat and transfer or withdraw to a Mastercard.

The company revealed that its new ‘Buy & Sell’ service, powered by Mastercard Move, will be available on its website and app. It wants to streamline users’ experience and make it easier for them to manage their money.

Binance streamlines off-ramping of crypto

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

Mastercard said its new feature will allow users to sell their crypto and transfer the fiat balance to their card, or withdraw their funds to their card. The company said the feature streamlines off-ramping crypto with speed, simplicity, and security for users across Europe and the United Kingdom.

The firm also added another withdrawal option to bank transfers and other supported methods. The feature is currently available for Euro-based payouts, with support for more fiat currencies coming soon.

Mastercard said the sell to card feature is ideal for users who hold virtual currencies and are looking to liquidate quickly. The withdrawal to card feature suits users who already have fiat in their Binance accounts and would like to move the funds fast, directly to their debit or credit card.

“At Binance, we are proud of our focus on users which has garnered the trust of nearly 300 million users and continue to further the experience for them. The new Sell to Card and Withdraw to Card features streamline and enhance the user experience, making payouts of crypto proceeds simpler and faster than ever for our users.” – Thomas Gregory, Vice President of Fiat at Binance.

Gregory mentioned that Binance aims to continue expanding its services with global leaders and innovators in digital payments, such as Mastercard. The firm also wants to widen access and possibilities for its 300 million global users. 

He added that Binance is hoping to support more products and features. Gregory also acknowledged that the company remains committed to the high standards of regulatory compliance, along with its security and user protection efforts.

Scott Abrahams, executive vice president of Global Partnerships, Mastercard, said the firm is committed to unlocking the true potential of crypto assets for everyday use. He argued that the new features on Binance are meant to offer its users a better payout experience.

Europe wants to ease identity verification with EUDI Wallets

On Monday, Europe wants to launch the European Digital Identity (EUDI) Wallet to streamline identity verification. Mastercard argued that digital identity should feel as natural and reliable as making a payment.

The European Commission expects nearly 80% of EU citizens to use EUDIs by 2030 for everyday tasks. The wallet is meant to be a seamless alternative for secure authentication (SCA) and more.

Mastercard said it’s working to make Europe’s digital identity ecosystem simple and secure, starting with ensuring age verification works smoothly and protects users. It also contributes to initiatives funded by the European Commission to pilot EUDI Wallets.

The payment platform acknowledged that its partnership with identity innovators like Lissi is meant to securely tokenize its payment credentials and integrate them into EUDI Wallets. Mastercard aims to make its credentials universally accessible and trusted by consumers, businesses, and governments alike.

The EU Agency for Cybersecurity revealed that identity theft accounts for over 40% of online fraud in the bloc. Over 60% of Europeans also experience a hard time with ID verifications, which leads to abandoned transactions.

Mastercard believes there’s a clear need for a trusted and consistent way to verify identity for the more than 500 million Europeans who access everything from financial services to government portals. It has partnered with entities like EMVCo, the FIDO Alliance, and the OpenWallet Foundation, hosted by Linux Foundation Europe, to build a secure and consistent global identity ecosystem.

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