A subsidiary of Visa, the giant credit card payments, has decided to put an end to the circulation of the debit cards of crypto-currencies. The majority of customers based in Europe will no longer be able to benefit from this service.
Card TenX Visa/Source : TenX
Heading there towards the end of the hybrid maps ?
About a dozen companies of crypto-currencies have been affected by this closure. They instantly stopped their activities across the european countries. Providers like Bitwala, Tenx, Bitpay and Xapo have had to deal with a lack of liquidity after a subsidiary of Visa has stopped processing payments. This is WaveCrest. Bridging the gap between the two currencies, traditional and crypto-currencies is one of the biggest challenges faced by the platforms of crypto-currencies. The hybrid maps, that can be loaded with crypto-currencies and then use it to make purchases in a fiduciary money local, have been considered as a smart solution. All that changed this week when hundreds of thousands of european users of crypto-currencies have realized that their cards were not working.
WaveCrest-Logo/ Source : WaveCrest
Who should we blame ?
Some members of the community of crypto-currencies have been quick to point the finger at the company Visa, although there is no evidence that the order comes from on high. Given that the company processes more than 100 billion of currency transactions for traditional by year, compared with about $ 130 million of Bitcoins, it is premature to assume that Visa feels threatened by crypto-currencies. It seems likely that the majority of card issuers europeans will be able to resume their service in the near future. Customers will be wary before putting their confidence in a map populated with crypto-currencies, knowing that a repetition of the incident of WaveCrest could result in the suspension of the service at any time.
Source : News.bitcoin.com