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Crypto-credit card provider Volinex concludes that read doors


the Swiss start-up Volinex was lined up to find a debit card solution for Kryptowährungen. It wanted to respond to the problems, which resulted in the crypto community due to the loss of the license by WaveCrest by the credit card provider VISA. Now, but also Volinex itself must adjust its business.

In early January, there had been a major outcry in the crypto community: from one day to the next by nearly all providers of crypto cards, about Bitwala or TenX, significant problems turned up, which resulted in that the offered maps no longer used were . As justification, it was specified that the credit card provider VISA of their issuing bank WaveCrest, which is responsible for the European bit coin/debit cards, deprived of license to activate the maps had.

The problems at WaveCrest called the Swiss start up Volinex on the plan. On January 14, started offering its crypto credit cards Volinex and offered a total of 100,000 Volinex CRYPTOCard. The Volinex platform wanted to deploy a wallet from the Kryptowährungen in euros and US dollars at the current exchange rates can be sold. From there the money on a debit card should be loaded, in the long term it should be also possible to place money on a linked IBAN account and to make transfers directly from a crypto account. The start-up held also a pre-painted ICO of the VNX token, which already started on 15 December 2017 and should go until February 28.

Now, the project has found a sudden and premature end. As the team behind Volinex on the site of the project has announced, Volinex stopped his work with immediate effect – after a long battle “against unfounded allegations of fraud, legal regulations, hacker attacks and the FIAT world”. as it says on the part Volinex. Unfortunately, eventually all major credit card provider against the vision Volinex’ and a further commitment in the crypto field would have decided.

As reasons for the premature failure, the Volinex team blames mainly the repeatedly expressed scam accusations toward the project. So almost untenable conditions should have prevailed at the end of the planning by hostile, even physical violence should be been threatened the employees of Volinex. The alleged hostility of many national Governments is cited as justification.

A refund is provided for those who have already invested in the framework of the pre-order in Volinex CRYPTOCard.


about Tobias Schmidt

 Tobias Schmidt is Tobias Schmidt since August 2017 as editor in the BTC ECHO working team. His studies in the subject of politics and Economics at the University of Münster signed with a Bachelor’s degree and was also active during his studies at the Department as a student assistant. In addition, he gained professional experience in parliamentary work and in strategic communication, before joining in the journalistic trade. Since 2017 he deals with the Blockchain technology, whereby it focuses in particular on the many different application possibilities in politics, economy and society.

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