Binance suspends Visa and Mastercard fiat withdrawals for Ukrainian users

Binance has confirmed that it has suspended direct fiat withdrawals to Visa (NYSE: V) and Mastercard (NYSE: MA) bank cards for its users in Ukraine, effective from December 29, 2025.

The suspension follows the termination of services by the exchange’s fiat payment provider, Bifinity UAB, which is set to cease its operations on December 31, 2025, as a result of the changes in regulations in the region.

The exchange made it known that the suspension will only affect customers from and within the Ukrainian territory who were using Bifinity services for their fiat payments. And has notified affected customers on the 15th of December, 2025, citing changes in regulations in Europe.

A Binance spokesperson said, “The announcement regarding changes to payment methods applies exclusively to users from Ukraine who previously used Bifinity services.” And further added that the changes are “not related to the National Bank of Ukraine.”

Basic operations on cryptocurrencies, such as trading, deposits, and sales, are unaffected and  remains available as usual. However, regular crypto buys and already-existing fiat-based limit buy orders will not be processed throughout this time period. 

Alternatives Still Available for Ukrainian Binance Users  

The suspension specifically affects outgoing fiat transfers to Visa and Mastercard cards, a common off-ramp for converting cryptocurrency holdings to local currency. Incoming deposits and direct crypto purchases using these cards remain unaffected, alongside payments through Apple Pay and Google Pay.

Swift bank transfers are fully operational for both deposits and withdrawals. Peer-to-peer (P2P) trading on the platform is unaffected, and Binance has recommended it as an alternative during similar disruptions.

The services of Zen.com, which processes both euros and Polish zloty, are temporarily limited but are expected to resume their full deposit and withdrawal services for Ukrainians on January 6, 2026. Binance is looking forward to migrating to other regulated providers to support ongoing fiat services in the European Economic Area.

The Ukrainian market remains one of the most active in the cryptoscape and ranks 8th in the world in the 2025 Chainalysis Global Crypto Adoption Index and leads Eastern Europe on a per capita basis. A proof of the sustained grassroots engagement with digital assets. 

While the suspension may temporarily inconvenience users that rely on the card, Binance stated there is no impact on account access or cryptocurrency holdings. Users are directed to check their accounts for current payment options.