Binance Visa debit card services will close down in the European Economic Area (EEA) on Dec. 20, according to an announcement by the cryptocurrency exchange on Oct. 20. Binance exchange accounts will be unaffected.

According to a message to customers posted online, Binance’s card issuer, Finansinės paslaugos “Contis” — or Contis Financial Services — will stop issuing the card. Contis is a Lithuanian electronic money institution and currency exchange operator owned by German banking-as-a-service platform Solaris Group, which is active in 30 European countries.

The Binance Visa debit card converts crypto in users’ Binance accounts into local currencies, thus allowing them to use crypto to pay for purchases in stores and online. The EEA comprises all 27 European Union member states, along with Iceland, Liechtenstein and Norway. 

And here goes the #Binance Visa Debit Card!

First Paysafe providing EUR on/offboarding, now Contis providing the debit card, what’s next? pic.twitter.com/e7EF7G7CVN

— Michael ⚡️S⚡️ (@M_affirmed) October 20, 2023

The Binance Visa debit card was introduced in the EEA in September 2020. At the time, there were plans to introduce Binance cards in Russia and potentially the United States as well. A Binance spokesperson told Cointelegraph in a statement:

“Although Binance users from around the wor

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Author: Derek Andersen

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