BlockBeats News, July 31st, self-custody wallet Ready co-founder Itamar Lesuisse stated that Paris-based crypto card issuer Kulipa suddenly ceased operations. Ready shut down its card business on Wednesday, and eligible card subscriptions will be refunded automatically. As Ready operates on a self-custody model, user assets were not affected; the cards deducted funds from users' wallets during transactions, so Kulipa did not hold any customer balances upon ceasing operations. Ready is now developing follow-up products based on new infrastructure.
Previously, Solflare stated that its card issuance partner Kulipa had ceased operations due to insolvency issues. (The Defiant)
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