Weld Money crypto cards are shutting down in Ukraine
Date: 2025-05-28 Author: Henry Casey Categories: BUSINESS
Ukrainian fintech startup Weld Money has announced the complete cessation of its activities. Users are advised to withdraw all funds in advance; access to wallets and cards may be limited after June 30.
“You must withdraw funds from cards and wallets by June 30; after this period, we will not be able to guarantee access,” the project team warns.
Among the reasons for the closure, the founders cite difficulties related to the current situation in the country: martial law and stricter requirements from regulators. These factors, according to them, made the further functioning of the platform impossible.
Problems in the service began to appear long before the official announcement. Back in March, users began to complain about interruptions in the Weld Money Telegram channel, to which the startup did not provide clear explanations at the time.
The Weld Money project was founded in 2020 by Alexey Meretsky, Alexey Bobok, and Irina Lawrence. Initially, it offered convenient management of bank accounts through a single mobile application, combining the capabilities of different financial institutions.
By 2022, the company changed its focus and, together with Unex Bank, issued the first Mastercard-based cryptocurrency card in Ukraine. It allowed users to pay with stablecoins, including USDT, USDC, BUSD, and DAI, when connected to wallets on the WhiteBIT and HTX (formerly Huobi) exchanges.
ForkLog's editorial team contacted one of the co-founders, Alexey Bobok, for a comment, but has not yet received a response.
It is worth noting that the closure of Weld Money is not an isolated case. In January 2025, the Kuna crypto exchange announced its complete withdrawal from the market, finally ending its operations on April 30. And since May 20, the cryptocurrency wallet Trustee Plus has stopped registering users from Ukraine, focusing on the European market.
In the podcast "Podcast Society", Allbridge.io co-founder Andriy Velykyi explained that the outflow of cryptocurrency companies from Ukraine is associated not only with the war, but also with the complication of the regulatory environment, including against the backdrop of international pressure.
The cryptocurrency ecosystem in Ukraine is undergoing significant changes, and the closure of Weld Money is just one sign of this process.
