Binance is discontinuing its crypto-backed debit card in Latin America and the Middle East, according to a post on X, formerly Twitter, by its customer support team on Thursday.
No reason was provided for the decision, though the cryptocurrency exchange went on to say that less than 1% of its users in the regions would be affected.
The debit card allows users to use their crypto assets to make transactions in shops or online as they would with a debit card issued by their bank. Discontinuation of the Binance Card in Latin America and the Middle East will take effect on Sept. 21, according to the post.
The move follows shortly after the exchange shut its crypto payments service, Binance Connect, which allowed merchants to accept payments in cryptocurrency. The decision was taken by Binance in order to refocus on its main products, the exchange said earlier this month.
Binance had not responded to a request for more details by publication time.
