Binance Visa Card Services Ends in Europe on December 20
Binance, the world's largest cryptocurrency exchange, announced that it will terminate its Visa card services in the European Economic Area (EEA) on December 20. In the e-mail sent by the exchange to its customers, it was stated that this step was taken due to the decision of Contis Financial Services, the partner company of card services. It was emphasized that Binance accounts will not be affected by this change.
What is Binance Visa Card?
Binance Visa card is a smart card that allows users to spend by converting the crypto currencies in their Binance accounts into fiat money. Users can use their cards at points that accept Visa all over the world.
Binance Visa card allows users to instantly convert cryptocurrencies into fiat money and thus benefit from the purchasing power of cryptocurrencies. Users can also benefit from the Binance Cashback program by using their cards.
Why is Binance Visa Card being terminated?
Binance Visa card services will be discontinued in the European Economic Area (EEA) on December 20. The EEA is a region that includes the European Union countries as well as Iceland, Liechtenstein and Norway.
In the e-mail sent to customers by Binance, it was stated that this decision was made by Contis Financial Services, the partner organization of card services. Contis Financial is an electronic money institution based in Lithuania and provides services in 30 countries in Europe.
Binance advised its customers to spend their card balances or transfer them to their Binance accounts. He also stated that the exchange's accounts will not be affected by this change and they can continue cryptocurrency transactions.