Solflare Card Service Suspended After Issuer Kulipa Ceases Operations

Solflare halts card services due to issuer Kulipa's insolvency. User funds remain secure via self-custody model. New version with Apple Pay support expected in weeks.

Woofun AI reports that Solflare has suspended its card service following the cessation of operations by issuer partner Kulipa, attributed to solvency issues. Co-founder Vidor confirmed that user funds remain secure because the service utilizes an end-to-end self-custody model, meaning assets are deducted directly from wallets without being held by the issuer. The team attempted to facilitate a buyer for Kulipa but failed to secure a continuity solution. A new version of the Solflare Card is currently in development, featuring Apple Pay and Google Pay integration, higher limits, and cashback rewards, with a launch expected in a few weeks.