Companies • August 24, 2023, 1:05PM EDT Published 1 minute earlier on 
The Block
Quick Take
- Mastercard is ending its crypto card payment program with Binance in Argentina, Brazil, Colombia and Bahrain, Reuters reported.
Stay updated on Pro Crypto Ecosystems news by locking ACS tokens with The Block.
Connect/Create Wallet You can unlock at any time.* No wallet? No problem. You can set one up for free. We recommend Torus for first-time users.*a 2% locking fee will be added at the time of locking. Learn more about Access Protocol 
Mastercard and crypto exchange giant Binance are ending crypto card programs in Argentina, Brazil, Colombia and Bahrain, Reuters reported.
The cessation, set for Sept. 22, will not affect Mastercard’s other crypto card programs, the news agency added.
Binance and Mastercard forged the partnership allowing users to convert cryptocurrency into fiat currency with the ability to earn up to 8% cash back in crypto, depending on the purchase. Merchants still received fiat currency, while customers used their crypto as a means of payment which was intended to bolster broader crypto adoption.
Crypto card program
Argentina became the first country to adopt the Binance crypto card program in August of 2022. The country’s high inflation rate had consumers looking at alternative payment options such as cryptocurrency.
Mastercard did not immediately respond to a request for comment from The Block.
