Binance halts Visa/Mastercard withdrawals in Ukraine after Bifinity exit
Binance has temporarily suspended Visa and Mastercard withdrawals for users in Ukraine after its fiat payment partner Bifinity (UAB) stopped processing crypto-related card payouts following regulatory changes. The suspension affects only card withdrawals; Ukrainian customers can still deposit and buy crypto via Visa, Mastercard (for deposits), Apple Pay, Google Pay, SWIFT and P2P trading, but recurring buys and active card-linked fiat limit orders are disrupted. Binance says it is seeking alternative payment partners and channels and urges affected users to use other withdrawal methods, but provided no firm timeline for resumption. Separately, Zen.com — used for euro and Polish zloty transactions — paused full deposit and withdrawal services and expects to restore them by January 6, 2026. The incident underscores operational risk from centralized exchanges’ reliance on third-party fiat rails and may temporarily constrain fiat on‑ramps and off‑ramps and reduce liquidity for Ukraine-based users until alternatives are deployed.
Neutral
This development is primarily operational rather than directly price-driving for any native cryptocurrency token. Card withdrawal suspension reduces fiat outflows for Ukraine-based users and temporarily constrains on/off ramps, which can lower local liquidity and trading convenience. Short term, affected traders may face cash-out friction, temporary reductions in local fiat liquidity, and slight increases in volatility for pairs reliant on Ukrainian flows, but there is no direct systematic shock to major crypto prices. Over the longer term, Binance is likely to restore rails or onboard partners; the episode highlights counterparty and regulatory risk for centralized exchanges and could marginally dampen confidence among users who rely on card rails. Overall price impact on major tokens should be limited and localized, warranting a neutral categorization.