1inch Card Winds Down; Users Told to Withdraw Funds by Dec. 18
1inch is winding down its prepaid 1inch Card for users in the European Economic Area and the UK, with new registrations closed. Existing cardholders are advised to spend or withdraw their balances by Dec. 18, 2026. The shutdown was confirmed on Oct. 20.
The card launched in April 2024 and let users convert crypto, including 1INCH, USDT, BTC, LTC, XRP and BXX, into spendable balances. Funds are held by licensed e-money institution Monavate, which issued the Mastercard; Crypto Life and Baanx are also involved in servicing the accounts. Card providers will determine when card functions end. Under the issuer’s terms, users can request redemption of remaining funds for up to six years after account closure.
The 1inch Card closure ends the project’s consumer card service, but does not affect its decentralised exchange aggregation business. The move has limited direct implications for crypto prices. Affected users should check their balances and withdrawal options ahead of the deadline.
Neutral
The wind-down ends a consumer card product but leaves 1inch’s core decentralised exchange aggregation business unaffected. As a result, the announcement is unlikely to materially change demand for or the market price of 1INCH. In the short term, affected users may move funds or adjust card usage, but those operational changes are not necessarily token sales. Over the longer term, the closure could modestly reduce 1inch’s consumer-facing reach, while having limited effect on the token unless traders interpret it as part of a broader deterioration in the project’s business. No such wider impact is established in the summaries, so the expected price impact is neutral.