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      Moonwell Card Program to End September 6 Following Cypher Acquisition

      Users of the Moonwell Card have until September 6, 2026, to withdraw any remaining balances, as the card program will cease operations following the acquisition of Cypher_HQ_ by Nium. The acquisition, which was finalized in July 2026, led to the immediate suspension of new card funding and the deactivation of existing cards for purchases after August 7, 2026.

      Launched in December 2024, the Moonwell Card allowed users to spend on-chain USDC through a Visa debit card at millions of merchants worldwide, featuring a unique borrow-and-load capability. This feature enabled users to borrow against their lending positions without needing to convert assets to fiat currency. Despite its innovative approach, the card's reliance on centralized infrastructure ultimately contributed to its downfall when Nium opted not to continue the program.

      Moonwell has advised users to log into the Moonwell app or the Cypher platform to initiate withdrawals before the deadline. While the card program is ending, the core lending and borrowing functionalities of the Moonwell platform remain operational, allowing users to manage their DeFi positions without disruption. The company is exploring new partnerships to potentially reintroduce a card product in the future.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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