According to The Defiant, the crypto credit card projects by Ready and Solflare have ceased operations following the sudden collapse of the card issuer Kulipa. Itamar Lesuisse, co-founder of Ready, stated that Ready received no prior notice, and eligible card subscriptions will be automatically refunded. Since Ready’s wallet operates on a self-custodial model, user assets remain unaffected. Kulipa’s collapse impacted approximately 20 crypto wallet and fintech companies’ card programs. Ready and Solflare cards charged users directly from their wallets at the time of purchase, and Kulipa held no customer balances at the time of its collapse.
Kulipa Collapse Halts Ready and Solflare Crypto Credit Card Services
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Summary
Kulipa’s collapse has halted crypto credit card services for Ready and Solflare, according to crypto news. Ready co-founder Itamar Lesuisse said the company was not notified in advance. Eligible card subscriptions will be automatically refunded. User assets remain secure due to Ready’s self-custody model. Around 20 crypto wallet and fintech projects were affected. Ready and Solflare cards deduct funds directly from user wallets. Kulipa did not hold customer balances at the time of its failure. The incident is a major story in crypto today.
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