BasedApp has announced that it will suspend its visa card service in Singapore this year. The company has confirmed that all active Visa Debit cards will be deactivated on November 15th, 2025. The platform has already stopped accepting new visa card applications from users in Singapore. Start immediately, customers cannot create new crypto deposits or swap through BasedApp.
This decision came after considering the company’s long-term strategy. Users can withdraw the remaining funds until November 30th, 2025. Any balances above one US dollar that have not been withdrawn will be converted to USDC. It is then sent to the user’s independent wallet. BasedApp said the process will allow users to maintain control of their assets even after card services are terminated.
Strategic Refocus
In an official notification, BasedApp explained that it will focus on independent wallet software. The company will also expand internationally in markets outside of Singapore. To maintain flexibility and reduce costs, BasedApp has withdrawn its application for a payment service license. It falls under the Payment Services Act of 2019, along with Singapore’s financial authorities. The company said it has invested heavily in compliance and infrastructure over the past two years. But now we have chosen to prioritize products that match their long-term growth.
Impact on users
For cardholders, shutdown means you will need to switch to other payment options. BasedApp advised users to update their linked accounts. Additionally, we will arrange alternative arrangements to repeat payments before the deadline. The company also said it is exploring a partnership that can bring alternative card services to its customers in the future. Base gold subscribers will receive a partial refund for unused subscription fees. The company said affected users will be contacted with refund details immediately.
What remains the same
The Visa Card Service will exit, but the BasedApp ungenerated wallet remains active. Users can continue to retain, send and receive cryptos through their wallets. The company emphasized that users have full control over their private keys at any time. BeadedApp thanked Singaporean users for their support and encouraged anyone with questions to contact our customer support team. This movement indicates a change in strategy for high lipid-covered platforms. It focuses on core blockchain products and global expansion.
