The decentralized exchange aggregator 1inch is shutting down its prepaid Mastercard service. The company officially announced the wind-down on October 20, 2026, and has already stopped accepting new user registrations for the card.
Existing cardholders in the European Economic Area and the United Kingdom are advised to spend or withdraw their remaining balances before December 18, 2026. The 1inch Card, which launched in April 2024, allowed users to convert crypto assets like 1INCH, USDT, BTC, LTC, XRP, and BXX into spendable funds.
The service relied on three partners: Monavate, which acted as the card issuer, and Crypto Life and Baanx, which managed provider services including KYC compliance. 1inch noted that the specific timeline for the final termination of card functionality is determined by these partners rather than 1inch itself.
While users are encouraged to clear their accounts by the December deadline, funds remain under the control of the issuer, Monavate. According to the issuer's terms, users retain the right to redeem any leftover funds for up to six years following the closure of their accounts.
