I recall speculation around the time of the change being "because Brexit." American Express offers cards in other EU countries, either directly or through licensees (for example, "Swisscard AECH GmbH" issues the American Express card in Switzerland), and the International Currency Card is serviced via their United Kingdom branch. Seems probable to me that Amex decided this product is for people who transact in Euro or US Dollars but who are not resident in either of those areas for whatever reason. Someone resident in one of those regions can "simply" (in quotes because not every EU country has an Amex issuer) get an Amex from a local issuer.