1. Binance, a prominent cryptocurrency exchange, will cease its crypto debit card services in Latin America and the Middle East starting September 21, 2023.
2. The decision was prompted by an interaction with a Binance customer who raised concerns about using the Binance card in Colombia.
3. The Binance Card, introduced in April 2020, allows users to make purchases with cryptocurrencies like a regular debit card.
4. Binance states that its crypto card services are available in 35 countries, with over 90 million merchants accepting it.
5. Binance revealed that the discontinuation of crypto debit card services would have minimal impact, as less than 1% of customers use this service in those regions.
6. The exact reasons for this decision have not been provided, but Binance assures users that their accounts will function normally, suggesting they use the Binance Pay platform instead.
7. Binance Connect, another service, was shut down earlier in August due to issues with supporting card services, showing the exchange's shifts in focus.
8. Binance.US partnered with MoonPay to resolve payment problems in the United States.
9. Binance is also making changes to its trading platform, ending the zero-fee Bitcoin trading initiative for the BTC/TUSD spot and margin trading pair.
10. The exchange will introduce taker fees for the BTC/TUSD pair, while maker fees will remain at zero; these changes will come into effect on September 7, with fees based on users' VIP tier levels and trading volume.
