On July 31, according to The Defiant, self-custody wallet Ready (formerly Argent) shut down its crypto credit card project on Wednesday after issuer Kulipa abruptly ceased operations. Co-founder Itamar Lesuisse posted on X that no prior notice was received, and eligible card subscriptions will be automatically refunded. User funds were unaffected due to Ready wallet's self-custody nature. Kulipa reportedly built card programs for about 20 crypto wallets and fintech companies. Its collapse affected more than just Ready; Solana wallet Solflare said on Tuesday that its card had also stopped working. Both Ready's and Solflare's cards were designed to deduct funds from users' wallets at the time of purchase, so Kulipa did not hold customer balances when it failed. Just four months before its collapse, Kulipa had completed a $6.2 million seed funding round co-led by Flourish Ventures and 1kx.
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Card Issuer Kulipa's Collapse Halts Ready Crypto Credit Card
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