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

Cryptocurrency exchange Binance will suspend its crypto debit card services in Latin America and the Middle East from Aug. 25.

The crypto debit card worked like other debit cards, allowing users to pay for day-to-day goods and services. The only difference is that these cards were funded by cryptocurrency assets.

The crypto debit card services in Latin America and the Middle East will be terminated by Sept. 21, but the exchange claimed refunds and disputes can still be processed until Dec. 20, 2023.

Binance didn’t reveal the exact reason behind the suspension but claimed it would only impact 1% of users in the affected regions.

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