1inch Ends Card Service, Urges Users to Withdraw Balances by Dec. 18
Platform shuts down card issuance
The cryptocurrency trading platform 1inch has stopped issuing new prepaid cards to users. The company is asking anyone who currently uses its card service to withdraw their balances by December 18. This move signals the end of the product, as the issuer is scaling down operations rather than shutting down the entire company immediately.
Key details for current users
- Users must complete withdrawals of their card balances by December 18.
- Existing accounts remain accessible for the time being, but the feature is being discontinued.
- The specific date when card functionality completely stops is controlled by the financial issuer and provider, not directly by 1inch.
- 1inch is a decentralized exchange aggregator that allows users to trade crypto assets across multiple platforms.
Source of the update
The news was reported by The Defiant, a publication that covers crypto and decentralized finance news. The report notes that while 1inch is urging the withdrawal, the final switch-off of the card technology depends on external banking partners.
What happens next
Users have until the deadline to move their funds to a separate wallet or exchange. After December 18, the ability to use these specific card services will likely cease as the external providers end their support.
Source
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.