Binance announces the deactivation of cards in several Latin American countries
The cryptocurrency platform announced that it will no longer have the physical card, backed by MasterCard for Colombia, Argentina, and other nations
In a statement issued on August 23, 2023, the Binance cryptocurrency exchange informed its Colombian users about the discontinuation of their Binance cards in Colombian territory. The news, which also affects Argentina and other Latin American countries, was shared through emails to users and published on the company’s official blog last Wednesday.
The measure, which will take effect from September 21, covers the suspension of Binance prepaid cards, including the virtual and physical versions. The company has urged users to take immediate action to manage refunds and claims before December 20, setting this date as the deadline.
Although Binance cards have been an option available in Colombia since March of this year, their reach extends beyond national borders. The cards will also stop operating in the Middle East, North Africa and other Latin American countries such as Argentina and Brazil.
It should be remembered that these cards, issued in collaboration with Movii, gave Binance users in Colombia the ability to use cryptocurrencies such as bitcoin and BNB to make purchases and pay bills. The product had been introduced in Argentina in July of the previous year and in Brazil in January of the same year, making Colombia the third country in the region to have this service.
K. Tovar
Source: Cointelegraph
(Reference image source: Markus Winkler, Unsplash)
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