UK: FCA Suspends Wirecard Subsidiary Responsible for Issuing Crypto Debit Cards
The UK financial watchdog – the Financial Conduct Authority (FCA) – today announced that it had suspended troubled payment processor Wirecard’s subsidiary, Wirecard Card Solutions (WCS), which was responsible for issuing Visa crypto debit cards. FCA said: For the uninitiated, WCS issues Visa crypto debit cards for popular digital asset lending platforms including Crypto.com and TenX.
Commenting on the development, Kris Marszalek, CEO, Crypto.com, tweeted: Despite the unfortunate collapse of Wirecard, optimists would hope that it wouldn’t have an irreparable impact on the encouraging customer demand for crypto debit cards. This would enable the firm to resume the issuing of cards in the UK and Europe and allow existing and new customers to enjoy the benefits of the Visa crypto card again.