$ADA Cardano Card Officially Discontinued on October 31 – Wirex Shifts to Non-Custodial Model
Bad news for Cardano Card users: this multi-chain crypto payment card will officially cease operations on October 31.
Details:
Users can continue using the card normally until October 31.
Wirex, the operating partner, is transitioning to a non-custodial model and shutting down its custodial infrastructure.
This is a blow to Cardano’s payments sector; while it may not directly impact the price of ADA, it highlights a reality: the crypto card market is an incredibly tough nut to crack. High operating costs, increasingly strict regulations, and razor-thin profit margins have caused many projects to try and eventually withdraw.
Wirex’s shift to a non-custodial model makes legal sense—by not holding assets, they avoid the liability associated with custody. However, for users, it means the old infrastructure is shutting down and the card is effectively dead.
What to do if you are using the Cardano Card:
Check your balance and withdraw your assets to a personal wallet before October 31.
Do not leave funds on the card until the last minute to avoid issues caused by a sudden infrastructure shutdown.
Keep an eye out for official announcements from Wirex and Cardano regarding the withdrawal process.
Crypto cards are fading away, a sector that seemed lucrative but is extremely difficult to sustain. Has anyone here ever used the Cardano Card?
News is for reference, not investment advice. Please read carefully before making a decision.
Bad news for Cardano Card users: this multi-chain crypto payment card will officially cease operations on October 31.
Details:
Users can continue using the card normally until October 31.
Wirex, the operating partner, is transitioning to a non-custodial model and shutting down its custodial infrastructure.
This is a blow to Cardano’s payments sector; while it may not directly impact the price of ADA, it highlights a reality: the crypto card market is an incredibly tough nut to crack. High operating costs, increasingly strict regulations, and razor-thin profit margins have caused many projects to try and eventually withdraw.
Wirex’s shift to a non-custodial model makes legal sense—by not holding assets, they avoid the liability associated with custody. However, for users, it means the old infrastructure is shutting down and the card is effectively dead.
What to do if you are using the Cardano Card:
Check your balance and withdraw your assets to a personal wallet before October 31.
Do not leave funds on the card until the last minute to avoid issues caused by a sudden infrastructure shutdown.
Keep an eye out for official announcements from Wirex and Cardano regarding the withdrawal process.
Crypto cards are fading away, a sector that seemed lucrative but is extremely difficult to sustain. Has anyone here ever used the Cardano Card?
News is for reference, not investment advice. Please read carefully before making a decision.