727 FinancePANews October 20 news: According to the FAQ page of 1inch's official help center, the 1inch Card project will gradually cease operations. New user registration has been closed, and existing cards and accounts are currently still usable. 1inch advises cardholders to withdraw or spend the balance in their cards as soon as possible, and to complete this by December 18 at the latest. The funds in the card are not held by 1inch, but are stored in an e-wallet issued by the licensed electronic money institution Monavate. Matters such as account closure, KYC, and personal data are handled by the card service provider Crypto Life (CL). When card functions terminate is decided by the issuer and the service provider. According to the issuer's terms, remaining funds can still be requested for redemption within 6 years after account closure.
1inch Card will cease operations; users are advised to transfer their balances before December 18.
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