According to Bloomberg's report, Mastercard and Visa are ending their card partnerships with the world's largest crypto exchange Binance.
Accordingly, Visa also stopped its card partnership with Binance.
It was stated that behind these moves by Mastercard and Visa are the problems Binance has with worldwide regulators.
A Binance spokesperson told Bloomberg that Visa has stopped issuing new co-branded cards with Binance in Europe from July.
It was also stated that Mastercard will completely terminate its card partnership with Binance in September.
In addition, Binance announced that it has decided to shut down its payment platform called Binance Connect, which allows businesses to accept crypto via Visa and Mastercard.
Launched in September 2020, the Binance Visa Card allowed consumers to pay for their basic daily expenses with cryptocurrencies.
