How can you assure what happened to wavecrest would not happen to this card issuer who is middlemanning this entire operation?
If it does happen then the investor would have lost their holdings in this business venture.
If it does happen then the investor would have lost their holdings in this business venture.
In the real sense, there is no way i can assure you. The best we can do is making sure we follow all regulations on using the card.
Thus no insurance to them if it does go the way of wavecrest leaving all their clients without their funds on the cards they had with them.
For those that did not get the memo they did not have the time to withdraw their funds off the cards before they became useless just lost access to those funds.
Are all of the services that offered Visa or Mastercard branded payment cards linked to crypto now out of commission?
I think the federal credit union and/or OCC limited purpose national bank charter routes are the best way to accomplish this in the short/medium term. Takes longer than a master agreement with an issuer, but gives much more certainty that you'll be able to keep your business model. If done properly, it can be done as a service for multiple projects, which is why I prefer the credit union model. Everyone's an owner, there are some very interesting things you can do in that model.
Best regards,
Ben
