Self-custodial wallet Ready (formerly Argent) shut down its card program on Wednesday after its issuer, Paris-based startup Kulipa, ceased operations without warning. Kulipa, which built card programs for roughly 20 crypto wallets and fintechs, collapsed due to solvency issues just four months after raising a $6.2 million seed round led by Flourish Ventures and 1kx, with participation from White Star Capital and Fabric Ventures. Solana wallet Solflare was also affected by the same failure. User assets on Ready remain safe due to the self-custodial model, but STRK, the token of Starknet where cardholders earned cashback, fell 5% in 24 hours.
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