14.07.2024

Binance halts crypto card support for Latin America, Middle East

The latest Binance news is that the exchange has announced its ending support for its crypto-backed debit card for customers in Latin America and the Middle East.

Binance Card support ended for Latin America, the Middle East

According to details the crypto behemoth posted on X (fka Twitter), support for the Binance Card will end on September 21, 2023. The crypto card will not be available for Middle East users as from August 25, 2023.

While it did not specify the reasons for the decision, Binance said the move will only impact a tiny percentage (1%) of its users.

“Only a tiny portion of our users (less than 1% of users in the markets mentioned) are impacted by this. Users of this product will have until September 21, 2023, when the card will no longer be available for use. Binance accounts around the world are not affected. Where available, users can also shop with crypto and send crypto using Binance Pay, a contactless, borderless and secure cryptocurrency payment technology designed by Binance,” the exchange posted via the X account of its customer support team.

Binance launched its crypto-backed debit card in Argentina in August 2022 and in Brazil in January 2023, with the offering rolled out via a partnership with Mastercard. The move to discontinue the product comes amid reported adoption issues and not long after Binance shut down its Binance Connect platform.

  • Binance has notified its Latin America and Middle East customers that its cryptocurrency-backed debit card will not be available from September 21, 2023.
  • The exchange notes that ending support for its Binance Card will impact only 1% of users in the two regions.

Leave a Reply

Your email address will not be published. Required fields are marked *