MasterCard and Binance are discontinuing their joint crypto-card initiatives in Bahrain, Argentina, Colombia and Brazil starting on Sept. 22, 2023. The Binance cards enabled users to make payments using conventional currencies, facilitated by their crypto reserves within the Binance exchange.

While no explicit reason was provided for terminating the crypto-card partnership, it is widely speculated that Binance’s recent clashes with the U.S. SEC and the Commodity Futures Trading Commission were contributing factors. Earlier this year, both regulatory bodies filed lawsuits against…

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