Global payment giant Mastercard is ending its cryptocurrency card partnership with Binance crypto exchange over untold reasons.
Global payment giant Mastercard is reportedly ending its cryptocurrency card partnership with Binance crypto exchange next month, according to a Bloomberg report. The report didn't divulge the reason for the change, but implied it might be due to increased regulatory scrutiny of the beleaguered crypto exchange.
Mastercard and Binance will end their four crypto card programmes in Argentina, Brazil, Colombia starting Sept. 22, BloombergThe decision to end the program will not impact any of Mastercard's other crypto card programmes, the firm reportedly said. The wind-down period will allow cardholders to convert any holdings in their Binance wallets, it added.
The Mastercard and Binance’s prepaid crypto card allows users to make payments in local fiat currencies, funded by their crypto holdings on the exchange.
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