[Coin World] According to reports, a certain application has announced the cessation of Visa card services in Singapore. Effective immediately, the company has stopped accepting new Visa card applications from Singapore users and will officially discontinue all Visa debit cards on November 15, 2025. Users need to withdraw account funds by November 30; assets not withdrawn by the deadline (over 1 USD) will be automatically converted to USDC and transferred to users' self-hosted wallets. The company stated that it will focus on self-hosted wallet software and international expansion in markets outside of Singapore, and has withdrawn its application for a payment service license in Singapore. The company is a one-stop trading platform for a certain trading platform.
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LiquidityHunter
· 09-01 10:51
It seems that small amounts of funds below 1 dollar will be directly discarded, which is expected to generate an arbitrage space of about 2.7%.
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FastLeaver
· 09-01 06:08
Another Rug Pull? It seems that the Singapore review process is really strict.
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GateUser-a180694b
· 09-01 06:02
Self-hosted wallet is the best, let's go!
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TokenEconomist
· 09-01 05:45
actually, this is a textbook case of regulatory arbitrage in action... classic move from centralized to self-custody to bypass traditional banking restrictions
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SchroedingerGas
· 09-01 05:42
Is it so difficult to get a Sima license? It's getting better, it's getting better.
A certain application stops Singapore Visa card services, focusing on self-hosted wallets and overseas expansion.
[Coin World] According to reports, a certain application has announced the cessation of Visa card services in Singapore. Effective immediately, the company has stopped accepting new Visa card applications from Singapore users and will officially discontinue all Visa debit cards on November 15, 2025. Users need to withdraw account funds by November 30; assets not withdrawn by the deadline (over 1 USD) will be automatically converted to USDC and transferred to users' self-hosted wallets. The company stated that it will focus on self-hosted wallet software and international expansion in markets outside of Singapore, and has withdrawn its application for a payment service license in Singapore. The company is a one-stop trading platform for a certain trading platform.