Binance Partners with BBVA, Expands Mastercard Withdrawals

Binance has launched a new feature enabling European users to convert cryptocurrencies to fiat and make near-instant withdrawals to eligible Mastercard cards, currently supporting euro transactions with plans to add more currencies. This service, powered by Mastercard Move, streamlines the process of accessing crypto funds for everyday use and improves liquidity. In addition, Binance has partnered with Spain’s BBVA, the country’s second-largest bank, which will act as an independent custodian for client collateral, including U.S. Treasuries, held off the exchange. This arrangement enhances security, reduces operational risks, and aligns Binance’s practices with traditional financial standards, especially after recent industry scandals. Both the Mastercard integration and the BBVA custody partnership reflect Binance’s efforts to improve compliance, security, and trust. Industry experts see these developments as meaningful progress toward the maturity of the crypto sector.