Binance, a prominent cryptocurrency exchange, has revealed its decision to discontinue Binance Visa debit card services within the European Economic Area (EEA) effective December 20th. While this announcement was made on October 20th, Binance exchange accounts themselves will remain unaffected by this development.
The move was conveyed to the public through an online message addressed to its customers. Binance’s card issuer, “Finansinės paslaugos Contis,” commonly known as Contis Financial Services, will cease the issuance of the Binance Visa debit card in the EEA. Contis Financial Services, an electronic money institution based in Lithuania, also operates as a currency exchange operator. Notably, this entity is owned by the German banking-as-a-service platform, Solaris Group, which has a strong presence in 30 European countries.
This decision marks a significant change within the cryptocurrency ecosystem for Binance users in the European Economic Area, with potential implications for their payment options and user experience. As the date of discontinuation approaches, Binance customers in the region may want to consider alternative payment methods and assess the impact of this transition on their financial activities.
For the latest updates on this development and its potential implications, interested parties are advised to monitor Binance’s official communications and financial news sources closely.
