Kulipa's Closure Leads to Suspension of Ready's Crypto Credit Card Project

Ready (formerly Argentin) shut down its crypto credit card project on July 31 due to the sudden closure of its issuer, Kulipa. Co-founder Itamar Lesuisse stated that they received no prior notice, and eligible card subscriptions will be automatically refunded. User assets remain unaffected due to the self-custodial nature of the Ready wallet. Kulipa built card projects for around 20 crypto wallets and fintech companies, and its closure has impacted multiple platforms. The Solana wallet Solflare also announced that its card has stopped working. The cards from Ready and Solflare were designed to deduct funds directly from users' wallets at the time of purchase, meaning that no customer balances were held at the time of Kulipa's closure. Kulipa had just completed a $6.2 million seed round led by Flourish Ventures and 1kx four months prior to its shutdown.