Binance to halt crypto debit card in Latin America, Middle East

Binance first revealed its prepare for crypto-backed debit cards in April 2020 as it intended to get in the global payment market. By July 2020, the crypto debit cards were being delivered to European nations and numerous others worldwide. The crypto exchange later on partnered with payment processor Swipe, with intentions to provide crypto debit cards in the United States. Related: PayPal UK to halt Bitcoin purchases until early 2024Cointelegraph connected to Binance about the possible reasons behind suspending its crypto debit cards in Latin America and the Middle East, however the exchange did not provide this details. Binance told Cointelegraph that “just a tiny part of our users (less than 1% of users in the markets discussed) are impacted by this.” While Binance claimed just 1% of such users would be affected by the choice, some of Binance CEO Changpeng Zhaos X posts about the statement and reactions to it were deleted.Magazine: Blockchain games arent actually decentralized … but thats about to change

The crypto debit card worked like other debit cards, enabling users to pay for day-to-day products and services. Binance responded to the inquiry with a statement suggesting that debit card services will be suspended beginning Aug. 25 without clarifying what led to the decision.Hello there, The Binance Card will no longer be offered to users in Latin America and the Middle East. The product, like many debit cards, has actually been made use of by Binances users to pay for fundamental everyday expenditures but in this case, the cards are moneyed with crypto properties.