MasterCard and Visa Pledges their Support for Binance amidst Regulators’ Issues

World Payment giant companies, Visa and Mastercard have reassured the world’s largest cryptocurrency exchange, Binance, of their support to continue to facilitate customers’ payments on behalf of the exchange despite the recent troubles from regulators.

The two payment companies expressed their awareness of the regulatory situation with Binance and stated that they’re keeping a close eye on the situation. 

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Both companies are not cutting off their customers from using their cards to make payments to their Binance accounts as it stands. MasterCard claimed to be looking at how the whole Binance situation will turn out while Visa claims to be in talks with Binance.

This decision by the two companies might be owed to their interest in the cryptocurrency industry. Top executives from Visa and MasterCard once gave bullish comments about the cryptocurrency industry and the potentials that lie therein.

Asides that, Visa is a key partner of Binance. Binance issues a Visa crypto debit card that enables its users to spend their crypto at Point of Sale. The Visa card also enables users to fund their account.

Read more:Australian Government Awards $5.6M in Grants to Blockchain Companies

Binance Continues Battle with Regulators 

The latest partner to cut ties with the world’s largest cryptocurrency exchange is Clear Junction. The key Europe payment facilitator announced the end to its partnership with Binance earlier this week. Clear junction halted the partnership due to the crackdown on the exchange from the UK’s Financial Conduct Authority.

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