Wirecard Bankruptcy Results in Suspension of Crypto Debit Card Program

published 28.06.2020 03:56

by Kaleem Naqvi from technologytimes.pk

The stoppage is not limited to Crypto.com; other Wirecard’s virtual card clients like ApplePay and Google are confirmed to have been affected.

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.

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.

Wirecard Bankruptcy Results in Suspension of Crypto.com Debit Card Program : 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 company said it is already working on transferring the card program to a new provider, adding: “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.”