Kulipa Collapse Forces Suspension of Ready Crypto Debit Card

The French stablecoin‑card issuer Kulipa announced an unexpected wind‑down of its operations, ending more than twenty active card programs. Because Ready's crypto debit card relied on Kulipa as its issuing partner, Ready halted the card service for all U.S. users as soon as the issuer ceased operating. The suspension affects holders of the Ready (formerly Argent) card, leaving balances and pending transactions unresolved. Kulipa had secured $6.2 million in financing in April 2024, but solvency issues prompted its abrupt closure, prompting warnings from fintechs such as Solflare and the Ready co‑founder.

Ready confirmed the card program is suspended while it seeks a new issuer, and users were advised to watch for official updates. The incident highlights the fragility of crypto‑backed payment products that depend on third‑party issuers.