This decision will impact all four of Mastercard’s co-branded card programs with Binance, which are in Argentina, Brazil, Colombia and Bahrain, starting on Sept. 22, Bloomberg reported Thursday (Aug. 24).
Reached by PYMNTS, a Mastercard spokesperson confirmed the report and provided an emailed statement saying that the Sept. 22 effectiveness data “provides cardholders with a wind-down period to convert any holdings in their Binance wallet.”
The statement added, “There is no impact on any other crypto card program.”
A Binance spokesperson also confirmed the report to PYMNTS, adding in an emailed statement: “Only a tiny portion of our users (less than 1% of users in the markets mentioned) are impacted by this. Users of this product will have until September 21, 2023, when the card will no longer be available for use.
“Binance accounts around the world are not affected,” the company’s statement added. “Where available, users can also shop with…