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Bankoff Crypto Cards Suspended Amid High Volume of Russian Transactions

Bankoff, a platform offering virtual cards that could be topped up with cryptocurrency, has told customers its cards are no longer supported by payment systems Visa and Stripe. They allowed Russians to pay abroad after major processors restricted their services in the country.

“It means our cards are no longer supported for any offline and online payments,” the Bankoff team elaborated. The neobank also revealed that its funds in a U.S. account had been frozen, assuring customers it’s currently working to restore access to the money.

Following the restrictions, Russian residents began ordering Bankoff’s virtual cards which allowed them to make payments abroad. The cards could be topped up with the stablecoin tether (USDT) and added to major electronic wallets such as Apple Pay, Google Pay, Samsung Pay, and Alipay.

Do you know of other crypto payment card services that have been halted for Russian users? Tell us in the comments section below.

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