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27.11.2023

Cryptocurrency exchange Binance announced that it will cease issuing and servicing its Visa debit card in the European Economic Area.

Owners of physical or virtual Binance Visas will be able to use them until December 20, 2023. The reissue can be ordered until December 6th.

The changes will also affect cards of Ukrainian refugees. The company offers Binance Pay as an alternative.

Binance Card launched in spring 2020. It allowed users to make purchases in Bitcoin and BNB at 46 million merchants in 200 countries. In September of the same year, Binance Visa cards became available in Europe.

“While Binance users around the world enjoy using [the Binance Visa Debit Card] to make everyday payments using crypto assets, only about 1% of our users are affected by these changes,” an exchange spokesperson told Cointelegraph.
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In August, Bloomberg learned about the termination of cooperation between payment companies Visa and Mastercard with Binance amid the latter’s regulatory problems. In March, the CFTC filed a civil lawsuit against the platform. In June, the SEC brought claims against Binance and its head Changpeng Zhao.

In October, European users of the exchange were able to deposit and withdraw funds in euros. This comes after former partner Paysafe abandoned the service in September.

Let us remind you that the bitcoin exchanges Bitget, Huobi, Bybit and Gate.io issued their own cryptocurrency cards.