Fun

News Feed - 2023-10-21 02:10:38

Derek Andersen6 hours agoBinance shutting down European Visa debit card in DecemberMastercard ended its partnership in Latin America and Bahrain with Binance in September, possibly due to the regulatory environment.1820 Total views8 Total sharesListen to article 0:00NewsJoin us on social networksBinance 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 world have enjoyed using [the Binance Visa debit] card to make day-to-day payments with crypto assets, only around 1% of our users are impacted by this change.”


The closure of the Binance Visa service is the latest in a string of setbacks for Binance. The end of Binance Visa card services was announced a day after the exchange restored euro deposits and withdrawals, which had been unavailable for a month after payments processor Paysafe dropped the exchange. Binance is still not onboarding new users in the United Kingdom due to the loss of a third-party service provider.


Related: Visa taps into Solana to widen USDC payment capability


Binance.US suspended U.S. dollar deposits in June and warned that withdrawals would also be suspended. It partnered with MoonPay to enable U.S. users to buy Tether (USDT) on the exchange. It announced earlier this week that U.S. customers could withdraw dollars from their accounts by converting the fiat into stablecoin.


Mastercard ended its partnership with Binance in Argentina, Brazil, Colombia and Bahrain in September. At the time, regulatory scrutiny was suggested as the motivation for the breakup.


Magazine: Ripple, Visa join HK CBDC pilot, Huobi accusations, GameFi token up 300%: Asia Express# Visa# Business# Europe# Payments# Euro# European Union# BinanceAdd reactionAdd reactionRead moreCentral banks want to look under crypto’s hood — Is this a positive sign?Sam Bankman-Fried’s trial is telling a story of classic financial deceitBinance urges users to convert euros to USDT after Paysafe debank

News Feed

TON is paving a path to the future for crypto
Tim Delhaes1 hour agoTON is paving a path to the future for cryptoTON"s integration with Telegram has made it easier for users to use crypto to pay for goods and services — without realizing it involves blockchain.271
SBF to Remain in a Bahamian Jail for 2 Months, Report Claims FTX Execs Had a Covert Chat Channel Called ‘Wirefraud’
SBF to Remain in a Bahamian Jail for 2 Months, Report Claims FTX Execs Had a Covert Chat Channel Called ‘Wirefraud’ On Tuesday, the former CEO of FTX, Sam Bankman-Fried (SBF),
Open Interest on Bitmex Drops 16%: Investors Withdraw 37,000 BTC in Less Than 24 Hours
Open Interest on Bitmex Drops 16%: Investors Withdraw 37,000 BTC in Less Than 24 HoursData from Arcane Research shows that open interest on Bitmex’s bitcoin derivatives marke
ZachXBT criticizes Irene Zhao’s new memecoin amid past failures
Amaka Nwaokocha12 hours agoZachXBT criticizes Irene Zhao’s new memecoin amid past failuresThe crypto community remains divided as Zhao attempted to clarify her past actions and emphasize her commitment to transparency
Ethena Labs founder clarifies USDe stability amid high yield worries
Zoltan Vardai6 hours agoEthena Labs founder clarifies USDe stability amid high yield worriesYoung told Cointelegraph that the initial skepticism around USDe’s sustainability is “right” following the pitfalls of the
Marcel Pechman2 hours agoArbitrum (ARB) falls to all-time low as network usage metrics declineARB’s price slumps to a new low as a decline in TVL, a decline in active addresses engaging with its DApps and a general mal
Robinhood Turns to Chainalysis to Boost Compliance Ahead of Crypto Wallet Launch
Robinhood Turns to Chainalysis to Boost Compliance Ahead of Crypto Wallet Launch Popular trading platform Robinhood has partnered with blockchain data platform Chainalysis to meet
Brayden Lindrea17 minutes agoAmazon launches ‘Q’ — a ChatGPT competitor purpose-built for businessEmployees in HR, legal, product management, design, manufacturing and operations departments will benefit from Q, sa
Bitcoin passes new all-time high in euros as price reaches $65K
Helen Partz14 hours agoBitcoin passes new all-time high in euros as price reaches $65KBitcoin has passed a new all-time high against the euro, breaking a value of 60,000 euros for the first time in history.12011 Total vi
Marcel Pechman1 hour agoEthereum (ETH) price reclaims $2K as data shows a surge in network activityDespite regulatory action against Binance, a surge in Ethereum network activity and the expectation of a spot ETF approva
Derek Andersen47 minutes agoBinance settles with U.S. government: Timeline of US enforcement actionsU.S. government agencies have spent months, sometimes years, investigating Binance in the lead-up to unsealing an indict
Turner Wright4 hours agoAppellate judge denies Sam Bankman-Fried’s request for immediate release from jailThe motion from Sam Bankman-Fried’s lawyers will now go to a three-judge panel, with less than four weeks befo