VISA ENDS RELATIONSHIP WITH WAVECREST

XAPO AMONG AFFECTED CARDS

As of January 5th, 2018 VISA suspended its relationship with WaveCrest. All VISA cards issued by WaveCrest, including the Xapo VISA card that we ourselves have used and recommended in a previous article, ceased working on January 5th.

We would like to publish here Xapo's official statement. It sums up the situation and clarifies the most important information for Xapo users:

"Dear Cardholder,

Yesterday, January 4th 2018, the Xapo Card issuer Wave Crest Holdings, Ltd. was instructed by Visa® to close all cards of its Visa® programs effective immediately.

Unfortunately, Xapo did not receive any anticipated notice to prepare for - and have our cardholders prepare for -  the cancellation of our Card program.

How does this change affect you?

Your Xapo Card has been deactivated, and you will not be able to use it for further payments or withdrawals. The rest of your Xapo account remains active, and you can continue to access your Xapo wallet balance and funds without interruptions. All other Xapo services are available for your use, as always.

If you currently have any pending transactions or refunds on your Xapo Card, we will work with WaveCrest to settle your pending transactions during the next few weeks.

What's next?

If you ordered the Xapo Card recently, you expected to have much more time to use it. This is why Xapo will offer you the option to claim a refund of your card order fee through your Xapo Account if you ordered your card on or after December 1st, 2017. If you qualify, we will email you soon with instructions. 

As a token of our appreciation for being a loyal Xapo customer, once we are able to service Xapo Cards in your country again, we will offer you a new card free of charge.

We are hard at work to find alternative card solutions for you. The past years have shown what a powerful product a cryptocurrency payment card can be, and we are already in discussions with potential card issuers allowing Xapo to continue serving customers in Europe and beyond.

We are deeply sorry that we cannot continue to provide Xapo Cards until further notice - we are doing our best to find new and improved alternatives, and we hope to be back in your country soon.

If you have any questions or issues in the meantime, please reach out to our team.

Sincerely,

The Xapo Card Team"

As soon as we found out about VISA's decision we started our research looking for alternative solutions. We will keep you updated here on coinvasion.com and on our facebook page, as well.

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