Crypto News – The Middle East and Latin America will no longer be able to use crypto debit cards, Binance has announced, effective August 25. These users will be able to maximize their Binance cards until September 21, 2023.
Binance Debit Card to Discontinue Service in Latin America and the Middle East as of August 25
Like the majority of debit cards, these cards have given customers the ability to pay for regular expenses. However, the unique selling strategy of Binance is that these cards are backed by digital currency. The exchange detailed the development in a formal announcement.
The Binance Card will no longer be available to users in Latin America and the Middle East. The product, like most debit cards, has been utilized by Binance’s users to pay for basic daily expenses but in this case, the cards are funded with crypto assets. Only a tiny portion of our users (less than 1% of users in the markets mentioned) are impacted by this.
The exchange
Binance Pay Will Still Be Available in These Regions
Although certain users will be negatively impacted by the card’s discontinuation, the larger ecosystem is untouched. The use of Binance Pay, a safe contactless cryptocurrency payment option, and crypto purchasing are still options that users in these areas can investigate.
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