Mastercard, Visa Step Back From Binance Card Partnerships (2)

Mastercard Inc. and Visa Inc. stepped back from their card partnerships with Binance Holdings, distancing themselves from the cryptocurrency platform that’s under threat from regulators worldwide.

Visa stopped issuing new co-branded cards with Binance in Europe as of July, a spokesperson for Binance said. Mastercard Inc., meanwhile, will end its card partnership with Binance entirely in September. Mastercard declined to give a reason for the move. Visa didn’t respond to requests for comment.

Binance has come under heavy scrutiny from financial watchdogs across the globe, with pressure intensifying amid a crackdown on the industry after a series of blowups ...