Binance has temporarily stopped Visa and Mastercard card withdrawals for some users in Ukraine due to regulatory changes affecting its fiat payment partner, Bifinity UAB. The change took effect on Monday, December 30, and is limited to a specific group of users.
The exchange clarified that the suspension only applies to Ukrainian users who previously used Bifinity for fiat withdrawals. Binance also assured customers that its core services remain fully operational, including crypto trading, deposits, and the ability to buy digital assets without interruption.
Why Were Withdrawals Suspended?
Earlier this month, Binance informed users that its payment partner Bifinity UAB would stop offering services by the end of December due to regulatory changes. Since Bifinity handled important fiat payment services, its shutdown has affected some Visa and Mastercard withdrawal options for users in Ukraine.
Binance also clarified that this decision has nothing to do with the National Bank of Ukraine and does not mean wider restrictions are coming. The suspension is limited and only affects specific payment methods, while other Binance services continue to run as usual.
What Services Are Still Available?
Despite the temporary pause on card withdrawals, Binance said that most of its services are still available for users in Ukraine. Users can continue to deposit money and buy cryptocurrencies using Visa and Mastercard without any issues.
Popular payment options like Apple Pay and Google Pay are also working as usual for account top-ups. In addition, SWIFT transfers remain active for both deposits and withdrawals, giving users another way to move funds.
Binance also confirmed that peer-to-peer (P2P) trading is not affected and continues to operate normally. However, the exchange noted that recurring crypto purchases and existing fiat-based limit buy orders will be temporarily paused during this suspension period.
Zen.com Services Temporarily Limited
Binance’s update also affects Zen.com, a widely used payment platform for Ukrainian users handling euros and Polish zloty transactions. Due to the ongoing suspension of card withdrawals through Bifinity, Zen.com’s full deposit and withdrawal services will be unavailable until January 6, 2026.
During this period, users who need to move funds out of Binance will have to rely on alternative methods such as SWIFT transfers or peer-to-peer (P2P) trading, wherever allowed. Binance assures users that these measures are temporary, and normal Zen.com services are expected to resume shortly after the stated date.
Binance Under Regulatory Watch Again
This card withdrawal pause comes as Binance faces renewed attention from regulators. A recent report by the Financial Times claimed that a few suspicious accounts handled around $1.7 billion in transactions since 2021, including some activity after Binance’s $4.3 billion US criminal settlement in November 2023.
Binance denied these claims, explaining that none of the wallets were sanctioned and that all transactions were checked carefully with the available data. Still, the incident highlights ongoing concerns about global compliance and regulatory oversight for the exchange.
