Unannounced Overnight Closure of All Xapo Visa® Cards
Even yesterday morning everything seemed regular!
Source: Image from Pixabay. Credits to AhmadArdity for credit-card, used under the CC0 Creative Commons license.
Yesterday late afternoon when I arrived home, sit in front my computer and checked my emails I was unpleasantly surprised. Xapo one of (as they say most secured) Bitcoin Wallets informed me about that my Xapo Card has been deactivated.
At first, I thought maybe I did something wrong, or perhaps it's just some Xapo internal issue, but as it seems from the email that I received it's not about me or any other Xapo Visa® cardholder. As they said, it's about Wave Crest Holdings, Ltd. who "was instructed by Visa® to close all cards of its Visa® programs effective immediately."
Source: Image from Pixabay. Credits to falco for guarantee-card-credit, used under the CC0 Creative Commons license.
Later on, I discovered many other prepaid card providers whose card issuer was Wave Crest Holdings, Ltd. suspended their service to their Visa® cardholders. Allegedly Wave Crest Holdings, Ltd. violated Visa’s policies. So, it turns out behind this sudden big move of a large number of cards cancellation stands, in fact, Visa® itself.
Now, the only question is, is it really just an action against one company (Wave Crest Holdings, Ltd.) and its reportedly “non-compliance” with VISA’s membership regulations as Visa Europe explained to TNW or a test drive of the crackdown on cryptocurrencies!?
What do you think?
Posted on Saturday, January 6, 2018
MCO could be next
Crossed my mind too.
Unfortunately this also hit TenX's card, I'm trying to find an alternative.
I believe Monaco's card is being issued through wirecard so that might be an option. Someone else has mentioned Wirex which I am yet to look into, but from first glance it's bitcoin only? Which I'd like to avoid at the minute due to the fees.
The only other I know of is Revolut which I believe is a bank that have added an exchange to their backend, so I'll have to take a look at that.
Does anyone have any other card solutions that might be worth looking at?
Wirex was also hit. I don't know did they found some alternative by now. I'm curious to see who would be the first of them to find a solution.
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I have ordered my card a couple of weeks ago and ironically arrived today.... whats my luck right??? Lol i have talked about it in one of my videos. The wallet that i am using have organised a webinar where they explained the situation and announced that they had already been also in conversations with another issuer. So they announced they they are hopping to be releasing and start deleviring the new cards in about 2 weeks time.
OMG Sergio, you are really an unlucky person. But look, it's not the end of the world and luck would come your way for sure!
Regarding new issuer, I believe they would all have to find a new one. For now, I didn't receive any news from Xapo in that direction. But they said earlier when they find a new issuer the new card would be sent free of charge.
I'm curious now which Wallet you are using?
I am using Wirex. Maybe You should give it a look and keep updated with their news as well. ;) the fees and the service and communications with the customers it is pretty good. You can check it here: https://app.wirexapp.com/join/YU67Ij6b4EWmf6zLfuvP7g
Thanks, Sergio! 🙂
You are welcome :)
That is the majority of all Crypto cards. Only few crypto card projects have some other partner.
I think the first point is true. Just need to wait for some time before they'll find another partner
Agree with you that we have just to wait and see. They are all (Bitwala, Cryptopay, Wirex, TenX, Xapo, and others) claiming that they are working hard to find some alternative card solutions.
However, Bitcoin jumped up yesterday! 😉
I hope that they do not say it just because they have to calm down and hold clients. They have to work hard now. The competition between them begins)
I hope so too! Although I think even now there is a way to work around it. Maybe not so smooth way as it was with those debit cards, but still a way.
As well, I am a bit curious to see what kind of solution they would come up with and who is going to be first among them with it.
Dag it. These people keep shutting doors at any form of advancement.
Unfortunately, that's also true.
And I am still here waiting for CRYPTERIUM
I don't know what is Crypterium?
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