urve is in active talks to purchase crypto lender BlockFi's more than 87,000 credit card customers, whose cards have been suspended since November 11.

According to a Curve spokesperson, outreach and negotiations began on November 12 and are still ongoing with Banking as a Service (BaaS) firm Deserve, which outsources the card program.

"Terms are being actively negotiated between Curve and Deserve, but a sale or collaboration, if agreed to, is subject to due diligence," a spokesperson said.

"The primary contact point for the pending negotiation is Deserve/Evolve, not BlockFi," they added, noting that Curve is not interested in BlockFi's assets.

If the acquisition goes through, the fintech plans to keep BlockFi's credit card program, mentioning that customers can still earn cryptocurrency rewards. They also stated that credit card program customers would not be transferred to another centrally-held exchange if the acquisition is successful.

According to reports over the weekend, Binance US and Coinbase continued pursuing BlockFi's credit card customers.

A Coinbase spokesperson shared, "We're not involved in any conversations or efforts linked to the card program," while Binance US had yet to respond to inquiries for comment at the time of publication.

The bid comes just days after BlockFi announced on Nov. 11 that it was suspending withdrawals due to the ongoing saga with crypto exchange FTX.

The same day, BlockFi credit card users flooded Twitter with reports that their cards were no longer working and that they had received responses from BlockFi confirming that their cards had been suspended due to recent events at BlockFi.

Some users were aggravated further when they received messages from BlockFi notifying them that they would still be forced to make credit card payments.

In a Nov. 11 post, cryptocurrency market watcher Just Boby said to his 14,000 followers, "This is NOT fake. BlockFi managed to reach out via both text and email to reassure me to pay my credit card bill," and others have decided to share a copy of the interaction from BlockFi.

Nov 14, 2022
Crypto News

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