Crypto wallet provider BasedApp has discontinued its Visa Card product and related services in Singapore.

The decision follows the withdrawal of its license application under the Payment Services Act before the Monetary Authority of Singapore.

The company had been operating the card under a transitional licensing exemption and said it will now focus on its self-custodial wallet and expansion outside Singapore.

New applications have stopped, and all cards will be closed by 15 November 2025, after which they can no longer be used for payments.

Users have 90 days from the date of the notice to withdraw their funds and must do so by 30 November 2025.

Any digital assets over US$1 or its equivalent left after that date will be converted to USDC and sent to the linked self-custodial wallet.

BasedApp has also suspended new crypto deposits and swaps.

It said it is exploring partnerships with other providers that could offer similar card services, with customers to be notified if alternatives become available.

Subscribers to the Based Gold plan will receive partial refunds of fees already paid, in cash or another form determined by the company.

The firm confirmed that its non-custodial wallet remains available, allowing users to hold, send, and receive digital assets.

Featured image: Edited by Fintech News Singapore, based on image by nisara_t via Freepik