Ready Card ends services outside the EEA and refunds users

The crypto payment card Ready Card is withdrawing from the market outside the European Economic Area. Users receive an e-mail informing them that their card will be deactivated within one hour. The reason: changes at the card issuer that mainly affect cards used outside the EEA. Ready Card says that accounts and balances remain safe and that only the card service is being discontinued.

Ready Card is a self-custodial crypto payment project known for USDC spending, onchain yield products, and early work in smart contract wallets and the Starknet ecosystem. The news comes at a time when crypto cards are growing strongly as a means of payment, with transaction volumes having increased by a factor of 27.

Card deactivation due to problems at card issuer

In the e-mail to users, Ready Card explains that the deactivation is the result of adjustments by the card provider. The measure specifically affects cards used mainly outside the European Economic Area. Ready Card apologises for the inconvenience and states that only the Ready Card itself is affected, not the accounts or the crypto balances stored in them.

Ready Card focuses on payments via USDC, the dollar-pegged stablecoin. The platform positions itself as a self-custodial solution, where users maintain control over their crypto wallet. With the discontinuation of the card service, an important functionality of the platform disappears for users outside Europe.

Automatic refund within ten working days

Users do not need to take any action themselves to get their money back. Ready Card indicates that it will automatically arrange a refund for the remaining months of the card subscription. The refund will be processed within ten working days. The company further states that it is working on the card offering and promises to keep users informed as soon as there are updates.

For those looking for an alternative to a crypto payment card, there are multiple options available on the market. Ready Card itself indicates that the service is not permanently ending, but that there is currently no clarity on when the card service will become available again.