Posted 1 year ago | by Ben Armstrong

Crypto.com Reactivates MCO Visa Cards in Europe and UK

The UK Financial Conduct Authority (FCA) has announced the lift of their restrictions previously imposed on Wirecard. As a result, the popular crypto card provider Crypto.com can resume the issuance of its MCO Card.

 

Click here to get $50 back on a new MCO Visa card, and take advantage of all the great benefits provided by the MCO card like 5% cashback, Netflix/Spotify 100% rebates, LoungeKey™ Airport Lounge Access for some card types. 

 

Wirecard UK Resumes Payment Services

 

The UK FCA suspended all regulated activities of the subsidiary Wirecard Card Solutions last week as a result of Wirecard missing $2.1 billion in company funds and filed for insolvency. 

 

On Monday, UK’s watchdog published an update announcing that previously instituted restrictions would be lifted at 00.01 on June 30th: “The FCE provided written consent to allow Wirecard to resume issuing e-money and providing payment services.”

 

However, the FCA’s authorization still imposes a few constraints, including “restrictions over where it can hold customer monies and restrictions over its ability to transfer its own assets.” 

 

TenX and Crypto.com Cards Suffered Temporary Interruptions

 

Wirecard’s subsidiary Wirecard Card Solutions is responsible for the issuance of two of the most popular crypto debit cards: Crypto.com’s MCO Visa Card and TenX’s Visa Debit Card.

 

TenX initially stated that Wirecard’s suspension had “no impact” on its operations but later admitted that their program had been “disrupted.”

 

On the other hand, Crypto.com announced it would stop all activity on its card programs in the United Kingdom and Europe. According to a previous blog post, the company confirmed it

would be refunding all customer funds and promised the process would take up to 48 hours.

 

Crypto.com Debit Cards Offer Loads 

 

Crypto.com is has informed all customers in Europe and the UK that the MCO Visa Cards services are now fully operational. 

 

The company also noted that due to the refund to users’ crypto wallets last week they need to top up their balances before using them.

 

TenX tweeted: “We are glad to update you that the TenX Visa Card has now been re-enabled, along with the Buy Bitcoin via debit-credit card feature in the TenX app. You may resume using these services as per usual, with no further action needed on your part.”

 

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About Ben Armstrong

ef4f73e9ddeb61becab57469962fa946?s=90&d=blank&r=g Crypto.com Reactivates MCO Visa Cards in Europe and UKBen Armstrong is a YouTuber, podcaster, crypto enthusiast, & creator of BitBoyCrypto.com. Better known as BitBoy Crypto, he works hard to educate and inform the crypto community.

Ben has been involved with the world of cryptocurrency since 2012 when he first invested in Bitcoin. He used Charlie Shrem's BitInstant & lost Bitcoin in the Mt. Gox hack.

In 2018, Ben decided to go "full-time crypto" and focus all of his time and energy into expanding the reach of crypto.

If you have any questions or comments please feel free to email him at BitBoy@BitBoyCrypto.com or contact him on Twitter @BitBoy_Crypto.