DeFi lending protocol Moonwell will discontinue its Moonwell Card debit card on September 6, 2026, requiring users to withdraw balances before that date. The shutdown follows the acquisition of infrastructure provider Cypher by payment firm Nium in July, as the new owner decided not to continue the card business. Launched in December 2024, the card allowed users to spend USDC at over 44 million merchants and borrow against lending positions. Moonwell confirmed that the core lending protocol and user positions remain unaffected.
DeFi lending protocol Moonwell will shut down its Moonwell Card debit card on September 6, 2026, and users need to pull out their funds before then. The shutdown traces back to payment firm Nium’s July acquisition of Cypher, the company that powered the card’s infrastructure. And the new owner chose not to keep the card business going.
Moonwell launched the card in December 2024. It let users spend USDC at more than 44 million merchants worldwide. It also gave users a way to borrow against their lending positions, which meant they could use their crypto collateral for day-to-day purchases. But Moonwell said the card shutdown does not affect the core lending protocol or user positions. Users can still manage their lending positions in the Moonwell application.
As reported by CryptoBriefing, the move ends a product built to connect DeFi lending with traditional payments.
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