Binance has confirmed the suspension of Visa and Mastercard withdrawals for users in Ukraine following changes linked to its fiat payment provider.
The exchange halted card-based withdrawals earlier this week, according to notifications sent directly to affected customers.
The pause applies specifically to direct withdrawals to bank cards issued by Visa and Mastercard.
Local Ukrainian media outlets first reported the change, citing user notices from the platform.
A Binance spokesperson confirmed the development and said the update only affects Ukrainian users who previously relied on Bifinity services.
Binance said the announcement regarding changes to payment methods applies exclusively to users in Ukraine who used Bifinity as their fiat provider.
On 15 December, Binance informed users that Bifinity UAB would cease offering services by the end of the month due to regulatory changes.
At the time, Binance said the shift would affect some fiat on- and off-ramp methods but would not disrupt core crypto trading activity.
The exchange maintained that users would still be able to deposit, withdraw, buy, and sell cryptocurrencies without interruption.
Ukrainian users have also been informed that recurring crypto purchases will not be processed during the suspension period.
Existing fiat-based limit buy orders will also remain inactive until card withdrawals resume.
Despite the restrictions, Binance said its main fiat on-ramp functionality for Ukraine remains largely operational.
Users can still deposit funds and buy crypto using Visa and Mastercard for incoming transactions.
Apple Pay and Google Pay continue to support account top-ups for Ukrainian users.
Swift transfers remain available for both deposits and withdrawals, providing an alternative route for moving funds.
The changes are not related to the National Bank of Ukraine and do not affect P2P operations, which continue to function as usual.
The Binance spokesperson said.
The update also impacts the availability of Zen.com, a payment platform used for euro and Polish zloty transactions.
Binance said Zen’s full deposit and withdrawal services for Ukrainian users are expected to resume on 6 January 2026.
Until then, users seeking to withdraw funds may need to rely on Swift transfers or peer-to-peer trading where permitted.
The announcement comes as Binance faces renewed scrutiny following a recent Financial Times report.
The report alleged that Binance allowed potentially suspicious accounts to continue moving funds after its 2023 US criminal settlement.
According to the report, 13 linked accounts processed around $1.7 billion in transactions since 2021.
Roughly $144 million of those transactions reportedly occurred after Binance entered its plea agreement in November 2023.
Binance rejected the report’s characterisation and said all transactions were assessed based on information available at the time.
The exchange added that none of the wallets involved were sanctioned when the transactions took place.