UK Financial Conduct Authority allows Wirecard subsidiary WCS to resume issuing electronic money and provide payment services, other services are still restricted

German payment giant and credit card issuer Wirecard subsidiary Wirecard Card Solutions (WCS) issued a statement saying that the UK Financial Conduct Authority (FCA) allows WCS to resume the issuance of electronic money (e-money) and provide payment services. This part of the activity restriction has been lifted today. WCS will continue to work closely with FCA to remove the remaining restrictions as soon as possible, including activities such as depositing customer funds or funds and transferring assets. Lianwen previously reported that on June 26, the FCA issued a notice requesting Wirecard’s subsidiary Wirecard Card Solutions not to dispose of any assets or funds, or to carry out any regulated activities. In addition, after Wirecard disclosed a financial loophole of $2.1 billion, the company filed for bankruptcy with the Munich court and is evaluating whether to file bankruptcy proceedings for its subsidiary. Wirecard became the first bankrupt company in the German blue chip DAX index, and the Frankfurt Stock Exchange suspended its stock trading. Chain news note, Wirecard’s subsidiary Wirecard Card Solutions was responsible for issuing Crypto.com’s MCO Visa and TenX’s Visa debit cards.