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Crypto.com Suspends Debit Card Program After Wirecard Bankruptcy


Crypto.com is temporarily suspending its Europe and U.K. issuances of MCO debit cards after its former card operator — Germany’s Wirecard AG — slipped into bankruptcy and filed insolvency this week. The Hong Kong-based company will now find a new card operator to commence its card business again — one of the largest in the crypto-ecosystem. Crypto.com clients in other regions, apart from the Europe and U.K., have not been affected.

EU roadblock

As per a blog Friday, Crypto.com said they were requested by authorities to cease all card programs in the U.K. and Europe, after an FCA investigation on Thursday. Customers in the two regions cannot top-up or transact using their MCO cards as of June 26. The stoppage is not limited to Crypto.com; other Wirecard’s virtual card clients like ApplePay and Google are confirmed to have been affected. The release said all customer funds are safe and pending credits will be processed to respective crypto accounts within the next 48 hours (at the time). All balances will be calculated from the fiat amount held on the cards prior to ceasement. Read More...



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