US Litecoin Visa Cards Will Stop Working May 1, 2023

“Please be aware, if you’re enrolled in a US Litecoin Visa card you will no longer be able to use it as of May 1, 2023. Our partner @UnbankedHQ is transitioning away from banking partner

@MCBankNY, who has decided to stop supporting businesses that touch digital currencies.”

Due to Visa Litecoin main partner UnbankedHQ transitioning out of partnership with MCBankNY and those who have decided to stop supporting crypto-related businesses.

Please be aware, if you’re enrolled in a US Litecoin Visa card you will no longer be able to use it as of May 1st, 2023. Our partner @UnbankedHQ is transitioning away from banking partner @MCBankNY, who have decided to stop supporting businesses that touch digital currencies. pic.twitter.com/LlL8xSYsqI

— Litecoin Foundation ⚡️ (@LTCFoundation) April 19, 2023

Additionally, only Unbanked’s US card program will be affected, EU or UK cards will not be affected, and withdrawals will not be affected. During this time, Unbanked will be looking for alternative banking partners in the United States.

Recently, US payments giants Visa and Mastercard are shedding plans to form new partnerships with crypto firms after a series of famous crashes shook confidence in the cryptocurrency market branch.

The crypto industry has seen an incredible reversal of fortunes in 2022 as the bankruptcy of significant industry players FTX and BlockFi worries investors and intensifies regulatory scrutiny of the cryptocurrency industry in this field.

Both Visa and Mastercard have decided to push back the launch of certain crypto-related products and services until market conditions and the regulatory environment improve.

In addition, the ongoing banking crisis in the US has also prompted some regulators to urge banks to be cautious about partnerships with cryptocurrency companies.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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