A few days ago, one of many feared bombs burst: Wirecard reports bankruptcy after the balance sheet scandal that the company lacks almost € 2 billion. As a consequence, the well-known Krypot credit card issuer, Crypto.com - also a Wirecard customer, has announced that it will stop the program for the UK and Europe for the time being.
Crypto.com must stop release in the UK and Europe
For many investors, there was bad news a few days ago: after long speculation and hopes that Wirecard's rumors of falsified balance sheets would not come true, it actually turned out that the listed company was short on € 2 billion. The stock plummeted. If a share was traded above € 17 on June 100, today it is only slightly more than € 1. A painful loss for investors around the world that they will not soon forget.
But not only investors unfortunately under the scandal. Wirecard partner companies must also bear the consequences. Crypto.com is one of the best-known issuers of crypto credit cards and was also a partner of the German payment service provider until recently. But in the wake of the scandal, people gave up knownTo stop the credit card program in Europe and the UK for now:
Following a communication from the FCA regarding Wirecard UK, we have just been asked to stop all activities in our card programs in the UK and Europe. Our customers in these two regions will no longer be able to load their cards or make transactions in the course of today.
Crypto.com guarantees the security of the systems
Of course, customers don't lose their money. The CEO of Crypto.com announced on Twitter that the facilities are safe and the company can guarantee that security. If the services are interrupted, all customers are entitled to a 100% refund. The assets on the card were also used as customers' crypto wallets credited.
Wirecard AG filed for insolvency in Germany today.
To all our card customers: your fiat funds are safe and guaranteed by https://t.co/pFc4PzqqHR - in case any of the services provided by Wirecard are disrupted, you will receive a fast 100% credit back to your crypto wallet.
- Kris | Crypto.com (@Kris_HK) June 25, 2020
The cooperation with Wirecard has ended for the UK and Europe. As the team announces, they are currently looking for a new service provider to be able to offer the credit cards again as soon as possible. Credit cards already ordered will be delivered as soon as a new partner is found. For customers from the areas mentioned, Crypto.com has a FAQ published.
Just a month ago, the company announced that it would now start issuing credit cards to Asia and the United States in Europe.
Markus from Kryptokumpel.de
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