Binance Halts Visa & Mastercard Withdrawals for Ukraine Users Following Bifinity Regulatory Shift

Another day, another regulatory domino falls—and users get caught in the middle.

Binance, the global crypto exchange, just pulled the plug on Visa and Mastercard withdrawal services for its Ukrainian user base. The move follows a strategic pivot by Bifinity, Binance's fiat-to-crypto payments arm, which is adjusting its operations in response to evolving regulatory expectations. It's a classic case of infrastructure shifting beneath users' feet.

When the Pipes Get Repaired

This isn't a permanent shutdown, according to the company's communications. The pause is framed as a temporary measure while Bifinity works to align its services with the latest compliance frameworks. For now, Ukrainian customers must seek alternative off-ramps—other card providers, peer-to-peer (P2P) trading, or direct crypto transfers—to access their funds. It's a friction moment in a market that prizes seamless, global liquidity above all else.

The Compliance Tango

The incident highlights the tightrope major exchanges walk. On one side: user demand for fast, familiar fiat gateways. On the other: a global patchwork of financial regulations that can change overnight. When a key partner like Bifinity recalibrates, the effects ripple out instantly to end-users. It's a stark reminder that in crypto, your easiest exit route can vanish while you're checking the price charts.

Looking Beyond the Pause

For the bullish observer, these growing pains are just that—temporary. Every regulatory clarification, even those that initially restrict access, helps build the legitimate rails for the next wave of adoption. The long-term trend remains clear: digital asset infrastructure is being formalized, not dismantled. Today's compliance headache is tomorrow's institutional-grade highway.

After all, what's finance without a little unexpected friction to keep the middlemen in business?

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.

Trump-linked stablecoin USD1 jumps $150M after @binance launches a massive 20% yield promo, triggering a rapid surge in supply and trading volume.#USD1 #Trump #binancehttps://t.co/RfH368kICC

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.