Representatives of Visa Europehave confirmed information on the termination of cooperation with the WaveCrest payment platform, whose customers are a number of large bitcoin companies, including BitPay, TenX, Bitwala and Wirex. This is reported by TNW.
The statement states that the partnership with Visa with WaveCrest is suspended due to the “non-compliance with the labor rules” by this Gibraltar financial company.
“We can confirm that the Visa partnership with WaveCrest has been suspended due to the continued non-compliance with the rules of cooperation with us, so all WaveCrest programs associated with Visa cards will be closed.
In a number of jurisdictions, there are other Visa card programs, which involve converting the encrypted currency into a fiat. The termination of the partnership with WaveCrest will have no impact on these products “, says the official statement of the payment giant.
The Visa representatives also stressed that this transition should not be characterized as repressive measures against the crypto-currency.
However, in Bitwala, which has been working with WaveCrest for some time, we are convinced that Visa’s solution is due to the reluctance of large financial companies to provide services to “fast-growing crypto-economy”. The company representatives expressed the hope that soon the services associated with the bitcoin cards will be available again.
Recall, a few days ago, the largest issuers of bitcoin prepaid cards have announced the closure of this product for non-US residents.