It has been just revealed that Binance has halted the service for the European Visa debit card. Check out the latest reports about this below.
Binance halts service for European Visa debit card
It has been just revealed the fact that about two months after Visa and Mastercard ended their partnerships with Binance, the world’s largest crypto trading platform made the decision to halt the service of its Visa debit card in the European Economic Area.
Consumers that already possess one of the cards will be able to continue using them until Dec. 20, the company announced in a blog post,” the online publication The Block notes.
The card has been created with the target of consumers’ ability to spend digital currency when buying goods and services.
“With the Binance Card, European residents can convert and spend cryptocurrencies in over 60 million online and physical stores,” the company had said. Binance also offered cashback bonuses with the card.
Visa and PayPal are interested in crypto
Just to refresh your memory, Visa and Mastercard’s decision to stop work with Binance has been announced in August. It is also important to note the fact that this decision came amid the crypto exchange’s ongoing battle with regulators.
The Block continued and stated the fact that while Binance’s relationship with the card giants has unraveled, other traditional financial institutions, such as PayPal, are expanding their interest in crypto.
“Visa also announced last month that it was expanding its USDC stablecoin settlement capabilities to Solana, forming partnerships with Worldpay and Nuvei for pilot programs,” The Block says.
The crypto space is currently boiling at the moment because we’re just ahead of the SEC’s acceptance of BTC ETF, according to the latest reports.
It seems that this has been triggering a ton of optimistic predictions for the price of BTC these days.
