In an email sent to Binance clients, the world’s largest exchange shares that the Binance Visa Debit card will not be available from December 2023 onwards.
The email cites the reason is the Lithuanian electronic money institution “UAB Finansinės paslaugos Contis” to be closing down in two months time.
Binance users notified of discontinuation
As part of this announcement, “UAB Finansinės paslaugos Contis” will no longer be the issuer of the Binance Visa Debit card program.
The email instructs users to destroy their Binance Visa Debit card by cutting it up before the Dec. 20 deadline so the clip and magnetic stripe are destroyed.
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At the same time, fiat and cryptocurrency from affected users Binance accounts will not be affected.
Binance comments on card decision
In a message shared with crypto.news, a Binance spokesperson confirms the news stating:
“Binance Card will no longer be available from December 20, 2023. Although Binance users from around the world have enjoyed using [the] card to make day-to-day payments with crypto assets, only around 1% of our users are impacted by this change. Binance accounts are unaffected and will continue to operate as usual.
“Where available, users can shop with crypto and send crypto using Binance Pay, a contactless, borderless and secure cryptocurrency payment technology designed by Binance.”
