Announcing the Xapo Debit Card
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Xapo is a Hong Kong based Bitcoin company that offers wallet services, cold storage solutions and a bitcoin-based debit card. Xapo launched in March of and has been providing service to thousands of customers world-wide.
They have multiple fully insured cold-storage vaults around the world protected by armed guards and state-of-the-art surveillance mechanisms.
Recently Xapo unexpectedly shut down access to all Bitcoin debit cards. They released the following statement:. Apparently the card issuer 'Wave Crest Holdings, Ltd' was instructed by Visa to close all cards associated with Xapo accounts. Xapo did not receive any prior notice before the shut down of Bitcoin debit cards.
As crypto-currencies continue to gain popularity around the world, traditional financial institutions may see them as a threat to their existence. Currently Xapo is working on finding a new issuer and promises free cards to those who had theirs closed. I think this affects all bitcoin debit card issuers, not just Xapo. Anyone that used WaveCrest had their card cancelled. I tried to pick up money today from my xapo card They eventually will get a deal with a new issuer, but it may take some time.
It's a shame that it's not just Xapo but it also effected BitPay card holders as well. I really hope they will found a way,a better way It could be months and it could be weeks. No real timetable at the moment.
Luckily there are a lot of companies on the hunt together! As far as I know my bitpay card is still working. I have a balance still and Bitpay has not sent any emails out saying anything about this. God what is going on in the world of crypto this week, all the alts surge, xrp upsets everything, bitconnect gets slapped with a cease and desist along with arisebank, and now xapo cards being terminated.
I think we are seeing the first real fear from the fiat economy trying to fight back or maneuver itself into a more favorable position.
Add the following inside your post: I hope this won't affect BTC price. It take to much time to get up again, otherwise we gonna have o long time in consolidation. They released the following statement: Authors get paid when people like you upvote their post. I'm sorry to hear about that. Hopefully they resolve the issue soon!
Have a nice day. So far has been crazy. Normally just removing the code from your post will remove it from the map!
