Binance Resumes Mastercard Payments for Shiba Inu and XRP

Binance has announced that users can once again use their Mastercard to purchase crypto assets, including Shiba Inu and XRP, on its platform. This development comes after Mastercard resumed crypto purchases and deposits via its payment network on Binance. The service was temporarily halted in August 2023 when Binance faced regulatory and legal challenges, including charges from US regulators. Binance and its former CEO, Changpeng Zhao, pled guilty to violating the US Bank Secrecy Act and agreed to pay a fine of over $4 billion. With many of their regulatory issues resolved, a spokesperson for Binance stated that Mastercard has lifted the ban on crypto purchases within the exchange. The spokesperson also mentioned that support for withdrawals through Mastercard will be added in the future. Mastercard has shown support for the crypto industry in recent times, recognizing Ripple as a leading company for cross-border remittances in Latin America and partnering with them for their CBDC program. They have also collaborated with other top crypto-related companies such as Consensys and Fasset.