[FREE] TenX cards are blocked
On 4 Jan 2018, the European card issuer — Wave Crest Holdings Ltd. — received direction from Visa® to to stop payments of all prepaid Visa® debit card programs effective immediately, which the TenX (PAY) Card program falls currently under.
- Visa cancelled all cards issues by Wavecrest (TenX included)
- TenX users will be getting a replacement soon
- TenX Withdrawals will be restored next week
- The TenX wallet keeps working as normal
- TenX will go live with a new global issuer soon
- TenX will soon be the only program live!
Of course, we at The New Research Group checked out the video of co-founder Julian Hosp. In a brief, he tells that it is a surprise that Wavecrest is blocked by Visa. But, TenX was already working on another global issuer. In fact, Julian Hosp tells that he can speed-up things in the Roadmap. The biggest step forward will be adding Ethereum and other ERC20 tokens, this means that you can easily pay with a lot of cryptocurrencies. Julian Hosp targeted to have over 1 million TenX users, but he thinks that number can even double or triple because of all the interest in cryptocurrencies. Another big thing is that TenX can speed up the process to get a banking-license what allows them to request creditcards without a middleman like Wavecrest.
Our opinion on this
Of course, it is a pity that the TenX card is not useable anymore. But, the ban is because of Wavecrest, not TenX. So, it affects al credticards given out by Wavecrest.
The best thing about TenX is that they most probably get a banking license in Q2. This allows TenX to directly issue out credicards. Then, TenX do not need a middleman, like Wavecrest, anymore.
In fact, TenX is the only provider that applied for a banking license, what means that they will be the only working cryptocurrency creditcard in the world (because all others are depending on issuers like Wavecrest).
In general, we love all kinds of working cryptocurrencies projects like TenX. These products make cryptocurrencies more accessible for the mass, what is very good for all of us! Keep an eye on TenX we still are bullish on the project!
Note: competitor (Monaco) MCO is issued by Wirecard. Wirecard can still issue Visa creditcards!
WE UPDATE THIS STORY IF THERE IS ANY NEWS!