Who actually issues your Crypto Card?
Not the app on your phone. You do not hold your card either, a licensed company does, and almost no project puts its name where you would look. It is public information, it just sits in terms nobody opens
Kulipa shut down last week and the cards of two apps died with it, while both apps kept working fine
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@raincards : 70.7% of the volume and more active wallets than anyone. Issues through Nimbus LLC out of Puerto Rico, licensed as a money transmitter
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@wirexdevelopers : 24.2% of the volume, and most of that is not its own card. It issues for other brands, and in Europe even your Wirex card comes from Transact Payments Malta, a Gibraltar group renting out its licence
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@Monavate_News : two entities, one in the UK and one in Lithuania. In December the Bank of Lithuania fined the Lithuanian one EUR 270,000 and banned it from working with six partners. Kulipa was one of them
- Xfers in Singapore : Visa, Singapore BINs. It issues the Singapore programme of
@RedotPay
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@reapglobal in Hong Kong : Visa, Asian BINs. It issues the Hong Kong programme of the same card, on a business BIN
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@Wallester_com in Estonia : Visa member since 2018, white label and BIN sponsorship, mostly EU programs
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@SunrateOfficial in Singapore and Hong Kong : licensed in both, corporate programs rather than consumer ones
- Sutton Bank in Ohio : an actual state bank, FDIC member, 11M cards issued. A US BIN instead of an offshore one
- Bolt in Australia : principal member on its own licence, and the issuer behind
@Backpack
When Kulipa went down the cards stopped working over a couple of days, and nobody lost a cent. That was not luck. Those cards were self custodial, the money never sat with the issuer, it left your own wallet at the moment you paid
Do you know which one yours is?