It was announced today from China-based bitcoin company BTCC that their Mobi wallet application will stop offering its Visa debit card service to non-European residents on October 15th, 2017, because of the new licensing restrictions from Visa.
In March BTCC released Mobi, a digital wallet app on iOS or Android. BTCC just the other day released Mobi Web, which now allows Mobi users to conveniently and securely view their wallets, send funds, and receive funds from a web browser.
Furthermore, Berlin-based Bitwala, a bitcoin wallet management app also announced they would be suspending service on all existing debit cards for users who live outside of the Visa European territory.
BTCC Mobi, Bitwala and other card providers for bitcoin utilized the Visa network to provide global and continuous coverage. However, according to Visa’s new regulations, only customers in EEA and selected adjacent states will be able to order BTC enabled debit cards.
In the past week, Xapo and Shakepay also announced that they would be halting service of their bitcoin-enabled debit cards to all cardholders who reside outside of the Visa European payment network.
Visa’s Europe network here refers to: Andorra, Austria, Bailiwick of Guernsey, Bailiwick of Jersey, Belgium, Bulgaria, Canary Islands, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Greenland, Hungary, Iceland, Ireland, Isle of Man, Israel, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, and the United Kingdom.
Both company cards are issued by Wave Crest Holdings Limited, a registered money institution by the Financial Services Commission of Gibraltar pursuant to a license from Visa Europe.
What about Mastercard cards of Wave Crest?