TenX, a company which aims to make virtual currencies spendable anywhere with its mobile wallet and linked debit cards, has recently encountered some problems. To clarify the situation and reassure its customers, TenX co-founder Julian Hosp revealed some information about company’s future.
According to Julian, TenX had about 200,000 users and close to 100,000 cards out prior to Janyary 8, 2018. On that day, Wave Crest, a card issuer working with TenX, lost its Visa license. Since then, all TenX cards users were cut off from the possibility to spend money. Many other companies, which provide their customers the same service as Tenx, worked with Wave Crest as well.
However, it seems that TenX is in better position than its rivals. It turns out TenX team had been looking for possible cooperation with another card provider long before the Wave Crest incident.
Julian couldn’t tell the name of the issuer, which he thinks will become a new TenX’s partner, due to a non-disclosure agreement. But he assured that this is a large and respected company, which wants to find a proper and legit way to interconnect cryptocurrency and fiat transactions.
It is expected that TenX will start sending new cards to customers in Q1 2018, aiming to have a million cards out in the course of the year.