Do you have a Bitwala Card? If you don't know then here is a very sad news for Bitwala Card holders. On January 5th, 2018 Visa Europe has suspended Bitwala cards with immediate effect. According to Bitwala's official website the effect is on both physical and virtual cards. Bitwala's issuer WaveCrest Holdings Ltd got instructions from Visa Europe to suspend all Bitwalas card.
Bitwala has assured its users a complete refund and the refund process will take approximately 30 days.
So whats next?
Bitwala is looking for an alternate solution and stated that a number of alternative card issuers are approaching Bitwala and discussing a solution for the future. It is uncertain whether Bitwala will introduce a new card system in the future. Same happened with Cryptopay debit cards.
Visa said in a statement: “We can confirm that WaveCrest’s Visa membership is being terminated due to non-compliance with our operating rules. All WaveCrest-issued Visa card programmes will be closed as a result.
“The termination of WaveCrest’s Visa membership does not affect other Visa issuers’ card programmes, including those using fiat funds converted from cryptocurrency. (Independant.co.uk)
So, there is still a hope for cyrptocurrency users.