Coinbase partner Shift Card is reportedly shutting down its debit card services on April 11th. According to Bitcoin.com, the Shift Card was launched in 2015 and allowed customers to spend cryptocurrency that is connected to their Coinbase accounts. Customers notably received an email that explained Shift Card’s plan to close this spring with hopes that it will relaunch eventually. The email stated:
“We hope you enjoyed using the Shift Card and truly thank you for your loyalty. We, unfortunately, will be retiring the program in April of this year — All Shift Cards will officially be deactivated on April 11, 2019.”
The Shift Card is described as a VISA debit card that currently allows Coinbase users in select states and territories in the U.S. to spend bitcoin anywhere VISA is accepted. The description further reads:
“When you use your Shift debit card to make a purchase, the equivalent value of bitcoin (based on the current spot price of bitcoin on Coinbase) will be debited from your Coinbase bitcoin wallet. For certain transactions, like gas purchases and dinner bills, Shift will debit more than the purchase amount, and will refund you the remainder when the final payment amount is settled.”
The email also revealed that Shift Cards will continue to work until April 11th. There hasn’t been any more information given about why the service would be shutting down.