Binance Pauses Visa, Mastercard Withdrawals for Ukrainian Users After Bifinity Regulatory Shift

Binance has temporarily suspended card-based withdrawals for users in Ukraine, pausing direct withdrawals to Visa and Mastercard cards following changes linked to its fiat payment provider, Bifinity UAB.

The restriction took effect on December 29 and was communicated to affected users through an in-app notice earlier this week, according to multiple Ukrainian media outlets.

A Binance spokesperson confirmed that the change applies only to Ukrainian users who previously relied on Bifinity services.

The exchange said the suspension is tied to maintenance and partner infrastructure updates following Bifinity’s planned exit from providing fiat services to Binance users by the end of December.

Binance stressed that the move is temporary and not connected to actions by Ukraine’s central bank, adding that peer-to-peer trading remains unaffected.

How Ukrainian Users Can Move Funds After Binance Pauses Card Withdrawals

Under the updated rules, Ukrainian users can no longer withdraw funds directly to Visa or Mastercard cards.

Binance also halted recurring buy features and cancelled existing limit buy orders placed using fiat currency, but deposits remain largely unchanged.

Users can still fund their accounts using Visa and Mastercard for incoming transactions, as well as Apple Pay and Google Pay. SWIFT bank transfers continue to be available for both deposits and withdrawals.

The exchange also addressed the status of Zen.com, a payment service commonly used for euro and zloty transactions. Binance said Zen is temporarily unavailable for Ukrainian users and is expected to resume operations on January 6, 2026.

Until then, users who need to access funds urgently are being directed to use SWIFT transfers or alternative options such as P2P trading, where available.

The changes follow an earlier announcement from Binance on December 15, when the company informed users that Bifinity UAB would stop offering services by December 31 due to regulatory changes.

Bifinity, launched in 2022 as Binance’s payments technology arm, has been responsible for a range of fiat on- and off-ramp services.

Binance said at the time that it had lined up other regulated service providers to take over those functions and that users’ ability to deposit, withdraw, buy, or sell crypto would continue without interruption, though some payment methods could be affected during the transition.

Binance described the shift as part of a broader response to changes in laws and regulations affecting Bifinity, reflecting tighter global oversight of crypto-related financial services.

The company noted that the termination of Bifinity’s services would end the existing terms of use between users and the provider but would not affect the safety of user funds held on the exchange.

Millions in Ukraine Rely on Binance as Crypto Use Grows

Ukraine is one of Binance’s largest markets in Europe. As of mid-2024, an estimated 4.8 million Ukrainians were using the platform, placing the country among the top ten globally by user count.

Binance has advised Ukrainian users to monitor their accounts for updated payment options and to consult its FAQ for region-specific guidance.

The exchange said it expects fiat services to stabilize as replacement providers fully take over, though some methods, including card withdrawals, may remain unavailable in certain regions during the transition period.

The timing of the withdrawal pause also comes as Binance continues to roll out other initiatives on its platform.

In late December, the exchange launched a limited-time high-yield promotion tied to USD1, offering enhanced returns through its Simple Earn products.

While unrelated to the Ukraine-specific payment changes, the promotion reflected Binance’s continued activity in expanding product offerings even as it deals with regulatory adjustments in its fiat infrastructure.