Ready suspends card services due to Kulipa's cessation of operations; user assets remain unaffected.

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The self-custody wallet Ready has suspended card services after Kulipa, its Paris-based card issuer, ceased operations. On July 31, Ready announced it is shutting down its card business, with eligible users receiving automatic refunds. User assets remain secure due to Ready’s self-custody model, where transactions are drawn directly from users’ wallets. The company is developing a new product on updated infrastructure. This development adds to recent on-chain news, as Solflare also encountered a similar issue with Kulipa. The incident underscores ongoing challenges in the real-world assets (RWA) space.

BlockBeats news: On July 31, Itamar Lesuisse, co-founder of the self-custody wallet Ready, stated that Paris-based crypto card issuer Kulipa abruptly ceased operations. Ready shut down its card business on Wednesday, and eligible card subscriptions will be automatically refunded. Since Ready operates on a self-custody model, user assets were unaffected; cards deduct funds directly from users’ wallets at the time of transaction, meaning Kulipa held no customer balances when it ceased operations. Ready is currently developing a follow-up product on new infrastructure.


Previously, Solflare stated that its card partner, Kulipa, ceased operations due to solvency issues. (The Defiant)

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