Mastercard Ends Card Partnership With Binance in Latest Blow to Crypto Giant

Embattled cryptocurrency exchange Binance has lost some business with payment card networks Mastercard and Visa.

The development is a sign of how traditional financial institutions are growing wary of working with the company as it faces intense regulatory scrutiny and wider concerns around financial compliance within the crypto industry.

Mastercard will soon no longer offer Binance-branded cards in Latin America and the Middle East, which let customers user their crypto to purchase goods, Binance said Thursday via X, the company formerly known as Twitter.

Read the source article at CNBC