Bitpay phases out crypto debit services for European cardholders

October 05, 2018
Chris Wheal

Global cryptocurrency payment service provider Bitpay has announced the company’s loadable cryptocurrency debit card services will no longer work for European customers later this month.

Bitpay notified its European card holding customers by e-mail and revealed it is now midst sunsetting all Bitpay accounts related to the Wave Crest-issued Bitpay card.

Earlier this year a number of cryptocurrency debit cards were forced to shut down services because of issues tied to the Gibraltar-based bank Wave Crest Holdings. Many crypto-cards ended debit card operations after the issuer Wave Crest had its licence from Visa revoked.

Wave Crest provided its services to several crypto-card companies, including Bitwala, Cryptopay, Wirex and TenX.

Time to transfer

Bitpay has now confirmed that it is phasing out its Wave Crest-issued Bitpay card and associated services.

“As you know, your Bitpay card’s issuer Wave Crest Holdings Ltd. stopped providing service for your Bitpay Card as of October 2017 or January 2018,” the Atlanta-based firm announced.

“We are now working to sunset Bitpay accounts related to the Wave Crest-issued Bitpay card. In 30 days, we will be turning off access to your Bitpay card dashboard. If you need to store your card’s transaction data for any purpose, please export your transaction data before your card dashboard access ends on Wednesday, October 31st, 2018.”

European Bitpay card users must now use another card provider if they haven’t already moved over the last six months. Currently, they can use popular crypto-card issuers such as Revolut and Wirex for their crypto-to-debit needs. There are also several new crypto-to-debit card start-ups entering the space that plan to provide these services for European customers.

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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