TenX cards are dead: PAY price tanking

Wavecrest, the issuer of TenX card has sent emails to TenX users that their cards are no longer useable. This also affects other companies that use Wavecrest service and that includes Wirex, Bitpay and Crypopay. TenX is a Visa Prepaid card and starting today, it will no longer function. However, the funds stored in the e-wallet will remain accessible as they are handled by the wallet provider. This caused a lot of panic in the already depressing price of the TenX’s token, PAY which runs on Ethereum blockchain.

TenX did a livestream and tweet immediately to calm its users but the damage had been done. The price of the token is tanking and we think it will continue to tank until TenX finds a solution. Wavecrest is not the only card issuer on the planet. It may take TenX days or may be months, to find a new issuer. Here are the contents of the tweet.

Following an urgent communication from our card issuer WaveCrest, payments on the TenX card will be unavailable. We are working on a solution and will let you know further details as soon as we have them. We apologise for the inconvenience.

The livestream also mentioned TenX had already partnered with Wirecard to issue cards and the Wavecrest users will get replacement card when the new cards are ready.