Binance, the largest bitcoin (BTC) and cryptocurrency exchange, reported this Wednesday the withdrawal of its prepaid card in the regions of Latin America (which includes Argentina, Colombia and Brazil), the Middle East and North Africa.
In an email sent to users and a blog post, the company notified that the Binance Card program will end in those regions on September 21. From that date, cards issued in those places cannot be used, as they will be rejected in businesses.
Binance clarified that user accounts will not be affected by this decision “and will continue to operate regularly.” “This change only affects the use of the Binance card,” the company added.
The exchange also clarified that the replacement of virtual and physical cards has been discontinued. Also, refunds and claims can be processed until December 20. “But it is recommended to take action as soon as possible,” says Binance.
Binance Card is a prepaid card with which you can make payments in physical stores and online stores that accept Mastercard credit or debit cards. With the product, people can hold cryptocurrencies in the Binance funds wallet and pay in fiat money, as the platform takes care of the conversion automatically.
The Binance card lasted in Argentina for only a little over a year. The product arrived in the land of tango in July 2022, as reported by CriptoNoticias. In Colombia much less was maintained. The service was activated in March of this year and was discontinued just 4 months later.
