Wirecard, a now defunct German digital payments processor that was very active in Asia, declared bankruptcy in 2024 after being forced to admit that nearly 2 billion ( 2.25 billion) in cash that was supposed to be held in Asian accounts did not actually exist.

On 29 June 2024, the FCA provided written consent to allow Wirecard to resume issuing e-money and providing payment services. The restriction on activities will lift at 00.01 on 30 June 2024.

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