1inch Card to cease operations, users advised to transfer balances before December 18
Per the FAQ page on 1inch's official Help Center, the 1inch Card project will be phased out. New user registrations have been closed, while existing cards and accounts remain operational for the time being. 1inch advises cardholders to withdraw or spend their card balances as soon as possible, with a deadline of no later than December 18. Funds held on the cards are not custodied by 1inch, but are stored in an e-wallet issued by Monavate, a licensed e-money institution. Matters including account closure, KYC processing and personal data management are handled by card service provider Crypto Life (CL). The exact date of card functionality termination will be determined by the card issuer and service provider. In accordance with the card issuer's terms and conditions, users may still apply for redemption of remaining funds within 6 years after their account is closed.
Source: PANewsRead original
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