Share this article
Binance to Withdraw Debit Card in Latin America, Middle East
The cryptocurrency exchange said the card service will terminate in the Middle East on Aug. 25 and in Latin America on Sept. 21.
Updated Aug 24, 2023, 11:42 a.m. Published Aug 24, 2023, 10:09 a.m.
- The decision was announced in a social media post that did not provide a reason for the move.
- Binance said that less than 1% of its users in the regions would be affected.
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.
The card service will terminate in the Middle East on Aug. 25 and in Latin America on Sept. 21, the cryptocurrency exchange told CoinDesk via email. It did not provide a reason for the decision, though said that less than 1% of its users in the regions would be affected.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
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. The card has been available in Latin America for less than a year: It was rolled out in the region's second-biggest country, Argentina, last August and in Brazil, the largest, in January.
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.
Read More: Binance Needs to Get Off Twitter
UPDATE (Aug. 24, 10:26 UTC): Adds rollout in Brazil and Argentina in second paragraph.
UPDATE (Aug. 24, 11:42 UTC): Adds dates that service will be withdrawn in the two regions.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Tom Lee urges BitMine shareholders to approve share increase ahead of January 14 vote
The chairman of the former bitcoin miner-turned-ether treasury firm reiterated his view that Ethereum is the future of finance.
What to know:
- Tom Lee, chairman of Bitmine Immersion (BMNR), urged shareholders to approve an increase in the company's authorized share count from 500 million to 50 billion.
- Lee assured shareholders that the increase is not intended to dilute shares, but instead to enable capital raising, dealmaking, and future share splits.
- Shareholders have until January 14 to vote on the proposal, with the annual meeting scheduled for January 15 in Las Vegas.
Top Stories
