Coinbase’s Partner Shift Payments’ Debit Card Intends to Shut Down Operations in April
It seems that Coinbase partner Shift Card is shutting down its debit card services that allowed users to spend their virtual currencies directly from Coinbase’s account. The service will stop working as soon as April 11.
The information was released by The Block in a recent article. Coinbase is one of the most popular digital currency platforms available in the market. According to the company, they hope to be relaunching the program and issuing new cards in the future. Nevertheless, the service that they are currently providing is being shut down.
The Shift Card was launched by Coinbase back in 2015 after signing a partnership with Shift Payment. The card was issued by the Metropolitan Commercial Bank and could be used in both VISA and Mastercard payment networks.
Back at the beginning of 2018, several crypto credit cards were affected by VISA suspending its partners WaveCrest. Due to this situation, products from CryptoPay, Bitwala, TenX and Wirex, among others have been completely affected.
Debit and debit cards related to virtual currencies are very important for the market because users find them very useful and straightforward for spending virtual currencies.
In the future, new crypto credit and debit card issuers will be able to enter the market and give users the possibility to spend their cryptos.