The German-based payment processor Wirecard Solutions just suffered a spectacular collapse following a $2bn accounting fiasco that makes its among the largest such financial scandals in German and EU history.
Wirecard UK, a subsidiary of Wirecard Solutions, was caught up in the firestorm, and had it’s operations halted by the FCA, UK’s financial watchdog.
This means the primary issuer issuer of the popular Crypto.com visa debit card for the UK and EU region, will leave those users with frozen cards and an uncertain future for the product, as the company scrambles to find another vendor for card issuance and payment processing.
This morning, the FCA effectively shut down Wirecard UK, the issuer of our cards in Europe.
Our EU/UK cards will stop working today. All customers will receive 100% credit back to their crypto wallets within 48 hours.
We’re moving the card program to a new vendor. https://t.co/jEdxMuwipq
— Kris | Crypto.com (@kris) June 26, 2020
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