Binance, a cryptocurrency exchange, announced that it will stop its crypto debit card services in Latin America and the Middle East from Aug. 25.
These cards let users pay for everyday goods and services with cryptocurrency assets instead of fiat money.
Users in these regions will have until Sept. 21 to use their crypto debit cards, but they can still request refunds and disputes until Dec. 20, 2023.
The exchange did not explain why it made this decision.
The news came out when a user from Colombia asked about problems with their crypto debit card on X (formerly Twitter). Binance replied with an announcement that said the debit card services will be suspended from Aug. 25.