Binance, the world's largest cryptocurrency exchange, is stopping its crypto debit card services in Latin America and the Middle East. The move, which affects fewer than 1% of regional customers, was published on its customer support page. The service will be rendered inoperable after September 21, 2023. Users can still transact and make payments till this date.
Binance introduced these cards last year to improve crypto payment services. They allowed users to pay and transact with their crypto holdings. The decision to discontinue these services, which could be due to limited usage, fits in with Binance's current strategy to emphasize on its core operations.
Refunds and disputes will be handled through December 20, 2023. This follows Binance's earlier decision to discontinue support for Binance Connect, another cryptocurrency payment tool aimed at traditional market participants.