Before the news came to light, it appeared Wirecard could emerge as a dominant player in the crypto debit card space, but now, as Wirecard’s preliminary insolvency proceedings take place, the race to dominate the crypto card market has begun. Visa’s demand led to the suspension of many customer’s prepaid cryptocurrency cards in Europe. Over the years, several well-known crypto exchanges have been hacked (Mt Gox, Bitfinex, Upbit, etc). Crypto card competition and trustWhilst, crypto cards are an important financial took for blockchain mainstream adoption, they still have a long way to go. This is why the competition in the debit crypto card space will get fierce.

Source: Forbes August 10, 2020 12:45 UTC