Bitpay has announced plans to cancel its loadable crypto-debit cards.
Wave Crest bank issued the cards. The issuing of crypto-debit cards will end in Europe by the end of this month.
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By GlobalDataThe move comes after Visa revoked the licence required by Wave Crest to issue its debit cards. Wave Crest had to terminate multiple prepaid Visa debit card programmes, including the BitPay Prepaid Visa Debit Card in Europe.
In January this year, Bitpay announced that cardholders would not be able to use their cards for further payments or withdrawals. However, it added that customers can access their card dashboard for important information.
Bitpay alerted its cardholders that even the access to the card dashboard will be turned off from 31 October 2018.
In an e-mail to cardholders, Bitpay said: “As you know, your Bitpay card’s issuer Wave Crest Holdings stopped providing service for your Bitpay Card as of October 2017 or January 2018.
“We are now working to sunset Bitpay accounts related to the Wave Crest-issued Bitpay card. In 30 days, we will be turning off access to your Bitpay card dashboard. If you need to store your card’s transaction data for any purpose, please export your transaction data before your card dashboard access ends on Wednesday, 31 October 2018.”
BitPay Visa debit card enables customers to load fiat currency using bitcoin wallet. The card facilitates both in-store and online transactions as well as cash withdrawal.
