- Crypto debit cards have been impacted by the collapse of Wirecard
- Here is a list of the responses from the major crypto debit card providers
- Only Cryptopay is yet to comment
Crypto debit cards from leading providers have been forced to halt their activities after the collapse of Wirecard, the German fintech company and card issuer. Here is a roundup of the statements issued by the top cryptocurrency payment cards and if and how their customers have been affected by the Wirecard collapse:
To the thousands of people around the world, Fintech took a backward step today. As CEO and co-founder of Wirex, I feel for those who have been affected.
To be clear – no Wirex customers using our European (EEA) card will be in any way affected by the recent Wirecard announcement. A very small number whose cards are issued by Wirecard will be notified of immediate steps to support them- but their funds will not be affected either.
We value our customer’s privacy and financial security, and so we are constantly monitoring the situation, and would like to reiterate that no funds are at risk for any Wirex customers.
Source: Wirex blog post
Following a notice regarding Wirecard UK by the FCA, we have just been requested to stop all activity on our card programs in the UK and Europe. Our customers in those two regions will not be able to top-up their cards or transact later today.
For all Europe / UK MCO Visa Cards, all credits have been processed successfully to cardholders’ crypto wallets equivalent to the fiat balances held on the cards.
Separately, we’re working on transferring the card program to a new provider, so that we can resume the issuing of cards in the UK and Europe and allow existing and new customers to benefit from our card program again.
Source: Crypto.com blog post
To our community of users, following a statement from FCA regarding Wirecard UK, we regret to inform you that our program will be disrupted. Unfortunately, our customers will no longer be able to use their cards or purchase bitcoin using credit/debit cards through the app. This will likely take effect in the next 24 hours.
Please be reassured that all customer funds are safe and remain accessible as the TenX Wallet is unaffected. You can continue to store, send, and receive cryptocurrency at any time with no interruption. The safety of your funds is our top priority.
The TenX team is working to re-enable the affected services as soon as we can. We apologize for the disruption and will continue to provide updates to you whenever we have them. In the meantime, our Customer Experience team continues to be available to support you.
Source: TenX blog post
We’d like to let our users know we have no affiliation with Wirecard and your #crypto are safe with us.
Just for a little peace of mind:
- We’ve switched all our top-ups away from Wirecard.
- Your Revolut card will work as usual! No worries.
- Your money is (as always) safeguarded with trusted global banks.
So you can top-up as usual, and have a great weekend!
No announcement, but no reports of cards not working.
Crypto Debit Card Providers Rushing to New Issuers
Most cryptocurrency debit card providers are searching for new issuers and will update users when this happens. However, in the meantime it seems that Crypto.com, TenX and potentially Cryptopay crypto debit card holders are out of luck and will have to open new accounts elsewhere if they want to continue using such services.