Kulipa Shuts Down Abruptly, Affecting 120k Cards and 20 Partners Including Solflare

Crypto payment firm Kulipa collapses after solvency issues, halting 120k cards. Partners like Ready and Solflare cut ties. No user funds lost as cards draw directly from wallets.

Woofun AI reports that crypto payment company Kulipa has abruptly ceased operations, impacting 120,000 issued cards and 20 partners including Ready and Solflare. The firm, which raised $6.2 million in seed funding, faced regulatory hurdles when the Bank of Lithuania fined its issuer Monavate €270,000 and banned further service in December 2025. Transaction volume peaked at $9 million in January 2026 but declined to $1.84 million by July, coinciding with Solflare discontinuing its card program due to partner solvency issues. Ready also terminated its card program after losing 42% of volume following an EEA restriction. No user funds were lost because transactions drew directly from wallets.