Visa and Mastercard have left open key gateways between Binance and the financial system despite rising regulatory scrutiny on the cryptocurrency exchange that has prompted some banks and smaller payments companies to cut ties.
Barclays and Santander — two of the biggest UK lenders — have in recent weeks stopped their customers from sending funds to Binance through their payment cards, citing a consumer alert issued last month by the Financial Conduct Authority against Binance.
Some other payments partners have also backed away, making it harder for customers to move money to and from the Cayman Islands-incorporated exchange. But the continuing access to two of the world’s biggest credit card systems — typically through intermediary payments companies — means Binance is still able to offer its customers an easy way to move conventional currencies to the exchange, underlining its sprawling and resilient network.
Visa told the Financial Times it was “aware of the recent FCA statement regarding Binance” and that it was in “dialogue with Binance to…
