The Paris-based company said it was closing shortly after raising fresh capital in a seed financing led by 1kx, leaving its U cards unusable.
Kulipa, a Paris-based stablecoin card issuer, has abruptly shut down about four months after completing a $6.2 million seed round led by 1kx. The closure renders its U cards unusable, marking a sudden reversal for a company that had recently secured fresh funding. The development underscores execution and business-model risks in crypto payments, where firms must bridge stablecoin infrastructure with card networks and consumer spending tools.