On July 31, Itamar Lesuisse, co-founder of self-custody wallet Ready, stated that Paris-based crypto card issuer Kulipa suddenly ceased operations, and Ready shut down its card business on Wednesday. Eligible card subscriptions will be automatically refunded. Since Ready uses a self-custody model, user assets are unaffected; its cards deduct funds from user wallets at the time of transaction, so Kulipa did not hold customer balances when it ceased operations. Ready is developing follow-up products based on new infrastructure. Previously, Solflare stated that its card partner Kulipa ceased operations due to insolvency issues. (The Defiant)
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Ready Halts Card Operations as Issuer Kulipa Shuts Down; User Assets Unaffected
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