Critical Service Update
Following our communication yesterday regarding service interruptions by our third party provider of specific services, Intergiro Intl AB, we have received further important updates from them that allows us to provide you with more complete information about the current situation.
Current Situation
Intergiro has informed us that they are experiencing regulatory restrictions which have resulted in the following:
- Immediate suspension of SEPA payment processing (both incoming and outgoing EUR transfers)
- Complete blocking of Visa card transactions as of today, June 20, 2025
- Cessation of merchant services preventing account funding through Intergiro's systems
Impact on Ka.app Services
Immediately Affected:
- EUR deposit and withdrawal functionality (completely unavailable)
- All debit card services (cards will not function for any transactions)
- IBAN account services (no new IBANs, existing accounts frozen)
- EUR-based merchant settlements
Unaffected Services:
- All cryptocurrency trading, transfers, and wallet storage functions continue normally
- Account access and security features remain fully operational
- Customer support and platform functionality outside of EUR services
Your Funds Are Protected
We want to emphasize that all customer funds held with Intergiro remain protected under Electronic Money Institution (EMI) safeguarding regulations. These regulatory protections ensure your EUR balances are segregated and secured according to European financial regulations.
Ka.app's Response Plan
Immediate Actions Underway:
- Multi-Provider Engagement: We are in advanced discussions with multiple licensed financial institutions to replace Intergiro's services
- Regulatory Compliance: All alternative providers are being vetted for full compliance as part of our ongoing licensing processes
- Service Restoration Priority: EUR on/off ramp functionality is our highest priority for restoration
- Enhanced Due Diligence: We are implementing strengthened third-party risk management procedures.
Service Restoration Timeline
- Within 1-2 weeks: Aiming for a detailed restoration timeline and user action requirements
- Within 2-3 weeks: Expected announcement of new financial services provider
- Within 4-6 weeks: Anticipated restoration of core EUR services (subject to regulatory approvals)
- Ongoing: Regular progress updates until full service restoration
What You Need to Do
Immediate Actions:
- Do not attempt EUR transactions through Ka.app until further notice
- Save any pending transaction records for reference during the transition
- Monitor your email and our official channels for specific instructions regarding account transitions
- Contact support immediately if you have urgent EUR access needs; however, please understand that - in this matter - support is currently restricted in what it can do.
For Debit Card Users:
- Your cards will not function for any transactions any longer
- We recommend securing alternative payment methods immediately
- Card replacement instructions will be provided once a relevant new provider is confirmed
Our Commitment to Transparency
This situation demonstrates the critical importance of transparent communication during service disruptions. While we initially hoped to resolve this matter quickly with minimal customer impact, the regulatory nature of the situation requires complete transparency about the challenges we face and the steps we are taking to address them.
Ka.app's platform, security, and compliance standards remain unaffected by these third-party provider issues. Our ongoing commitment to obtaining further licensing and building a robust, compliant crypto-financial platform continues without interruption.
Important final note: the information contained within this announcement may change due to the ongoing dynamic nature of this situation. As a result, anything that has been mentioned within this announcement may continue to change as and when more developments & information becomes available.
