Unbanked Card [EU] Discontinued

Category: Crypto Cards
4.9
Overall Rating
CRITERIA:
Company Strength
4
Fee Structure
5
Customer Service
5.6
PROS:
  • No need to preload, your crypto gets converted at time of purchase
  • 0% foreign exchange fees
CONS:
  • No Apple Pay yet for Europe
StatusDiscontinued
Visa or MC
Debit or Credit

Debit Card

Denominated In€ EUR
Apple PayNot Enabled
Monthly Fee

5.00 EUR

Monthly Inactivity Fee

0.00 EUR

Crypto to EUR Crypto->EUR Conversion Cost

0%

Cashback

None

Daily Spending Limit

7,500 EUR

Daily ATM Withdrawal Limit

500 EUR

Foreign Exchange Fee

0%

Supported CountriesShow All (27)
Supported CryptocurrenciesUNBNKUSDT

Reasons Unbanked Had to Shut Down

Unbanked chose to work closely with US regulators, thinking it’d be a good long-term strategy, but this approach drained a lot of their resources, both in time and money. The US regulatory scene wasn’t as welcoming as they’d hoped. This regulatory pushback made fundraising tough, investors were hesitant. Instead of having a big financial cushion from large investors, they mostly funded themselves.

Over their 5-year journey, they raised about $4M. A lot of this came from individual backers who believed in what they were building, rather than huge institutional players. Things seemed promising when they made a deal for a $5 million investment, putting their value at $20 million. But the funds haven’t come through, forcing them to close down.

“This decision to wind down Unbanked has not come lightly, but we have exhausted all options. The closure has not come from a lack of effort in exploring any and all viable options from our team. The entire Unbanked team should be commended for their relentless efforts and dedication to building this company over the last 5+ years. We have a very dedicated and talented team who went above and beyond their responsibilities because they believe in the mission. We hope that one day, perhaps sooner than later, we can revive Unbanked or another company with better funding can continue on with our core mission.”

Was Unbanked Card Available for Residents of United States?

No, Unbanked Card was not available for residents of United States.

Unbanked Card [EU] supported the following countries: Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom.

To see our list of available crypto cards for United States, see this list. There are currently 5 cards listed there.

You may also be interested in this article: Crypto Cards for USA: The Best Options for Americans.

Alternatives to Unbanked Card?

Paulina Masson

Paulina Masson

Paulina has a strong background in finance and cryptocurrency. She's been involved with crypto since its early days and has observed its progression over the years. Notably, she possesses expertise in various crypto products, having personally tested and evaluated many of them. In her spare time, she is developing a crypto bot designed to automatically trade on short timeframes.

⭑cryptonoshi
Logo
Compare items
  • Total (0)
Compare
0