Key Points:
- Mastercard-Binance collaboration ends on crypto card programs.
- Users lose ability to make payments in traditional currencies via crypto holdings.
- Termination affects Argentina, Brazil, Colombia, and Bahrain.
In a recent development, Mastercard and the cryptocurrency exchange Binance have announced the discontinuation of their joint crypto card initiatives in Argentina, Brazil, Colombia, and Bahrain. The spokesperson from Mastercard conveyed this decision through an email on Thursday, stating that the termination will take effect from September 22.
The Binance crypto cards, which enabled users to conduct transactions using conventional currencies backed by their cryptocurrency assets on the Binance platform, will no longer be operational in the aforementioned countries.
However, it’s important to note that this decision will have no impact on Mastercard’s other ongoing cryptocurrency card programs, as confirmed by the spokesperson.
