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The most frequently used crypto exchange, Binance, announced that it has decided to end its Visa card services in Europe.
Binance informed customers via an email that Contis Financial Services, one of its card service partners, is going to stop issuing cards. Contis Financial is a Lithuania-based electronic money institution, serving in 30 countries across Europe.
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The company also stated that it offered cardholder customers the opportunity to keep using their cards until December 20. Designers created this card to offer users greater flexibility and comfort when spending their cryptocurrencies.
European customers knew that the card allowed them to convert and spend their cryptocurrencies at over 60 million online and physical stores. In addition, Binance, also offered cashback bonuses with this card.
Binance, continues to face various challenges due to regulatory pressures. Previously, payment processor Paysafe had announced that it was ending its partnership with the exchange.
This incident was one of the problems faced by Binance, these days SEC and regulatory pressure are very much in the news for the crypto market.
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