Bullish

Solflare Card Suspended After Issuer Kulipa Shutdown; New Version Coming Soon

2026-07-29 11:05:20

Solflare halts card services following issuer Kulipa's collapse. Funds remain secure via self-custody. A revamped card with Apple Pay support launches in weeks.

Woofun AI reports that Solflare has suspended its card service after payment processor Kulipa ceased operations. Co-founder Vidor confirmed that user assets remain secure under an end-to-end self-custody model, as funds are deducted directly from wallets without custodial holding by the issuer. The team attempted to facilitate a buyer for Kulipa but failed. A new card version featuring Apple Pay and Google Pay integration, higher limits, and cashback is expected to launch within weeks.

WOOFUN AI

Impact Assessment · Quick Read

The suspension highlights operational risks associated with third-party fiat on-ramps in crypto wallets, even when assets are self-custodied. While user funds were not at risk, the disruption may temporarily reduce Solflare's utility for daily spending. The upcoming integration with major mobile payment systems could enhance adoption if executed smoothly, restoring trust in the wallet's fiat bridge capabilities.
Generated by WOOFUN AI · For reference only, not investment advice

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