Mastercard ended its partnership with crypto giant Binance-branded cards in some regions. Following the move, Mastercard will no longer offer Binance-branded cards in Latin America and the Middle East. This news is troubling for regular Binance-branded card users.
Currently, there is a tussle between Binance and the US financial regulator as the US financial regulator has filed a lawsuit against Binance. But after the end of this partnership, customers cannot use their Binance Card to buy goods using crypto.
The US Securities and Exchange Commission (SEC) filed lawsuits against both Coinbase and Binance, as well as the latter’s founder and CEO, Changpeng Zhao.
The SEC alleged that, while Zhao and Binance publicly claimed that US customers were prohibited from transacting on Binance.com, in reality Zhao and Binance secretly transferred high-value US customers to Binance.com.
It was reported that a senior Binance executive allegedly had primary control over five bank accounts belonging to an allegedly independent US affiliate of the cryptocurrency firm.
It is a Visa debit card linked to your Binance account. Binance card is available in physical and virtual cards for online and in-store purchases.
Yes, Binance Card allows you to withdraw cash from an ATM within the limit in regions that support cash withdrawals.
Mastercard has ended its partnership with Binance-branded cards in Latin America and the Middle East.