BasedApp has introduced it can cease its Visa card providers in Singapore this yr. The corporate confirmed that every one lively Visa debit playing cards can be deactivated on November 15, 2025. The platform has already stopped accepting new Visa card functions from Singapore customers. Beginning instantly, clients can’t make new crypto deposits or swaps via BasedApp.
This determination was made after reviewing the agency’s long-term technique. Customers can withdraw their remaining funds til November 30, 2025. Any stability above one US greenback that isn’t withdrawn can be transformed into USDC. Then despatched to the person’s self-custodial pockets. BasedApp said that this course of will guarantee customers preserve management of their belongings even after the cardboard service ends.
Strategic Refocus
In its official discover, BasedApp defined that it’ll now deal with its self-custodial pockets software program. The corporate additionally plans to broaden internationally in markets exterior Singapore. To stay versatile and scale back prices, BasedApp has withdrawn its software for a fee providers license. That falls below the Cost Providers Act 2019 with the Financial Authority of Singapore. The corporate stated it had invested closely in compliance and infrastructure over the previous two years. However has now chosen to prioritize merchandise that align higher with its long-term development.
Affect on Customers
For cardholders, the shutdown means they have to swap to different fee choices. BasedApp suggested customers to replace linked accounts. Moreover, it makes alternate preparations for recurring funds earlier than the deadline. The corporate additionally famous that it’s exploring partnerships that might carry different card providers to clients sooner or later. Subscribers of Based mostly Gold will obtain partial refunds for any unused subscription charges. The agency stated affected customers can be contacted with particulars of reimbursement quickly.
What Stays the Similar
Whereas the Visa card service ends, BasedApp’s non-custodial pockets stays lively. Customers can proceed to carry, ship, and obtain cryptos via the pockets. The corporate emphasised that customers will all the time have full management of their personal keys. BasedApp thanked its Singapore customers for his or her help and inspired anybody with questions to achieve out to its buyer help staff. This transfer alerts a shift in technique for the Hyperliquid-backed platform. It locations higher deal with core blockchain merchandise and international growth.
