Stratos Card Shuts Down 6 Months After Launch. What Does This Mean For Other Universal Cards?

[Update 03:00 pm EST] CEO of Stratos, Thiago Olson, has reached out to the LTP team and provided the following statement.

"I would like to address rumors that Stratos has recently shut down. Due to challenges with ongoing company financing, Stratos has paused and is undergoing restructuring.

We are happy to announce that we recently concluded an agreement in principal with Ciright ONE LLC under which Ciright will manage and fulfill all outstanding consumer and commercial orders and ensure continuity of services to current Stratos members. We are working closely with the ONE team to put our members’ needs first so they experience a clean transition with no interruption to service. Stratos cards will continue to function as they always have.

As some have noted, there has been a disruption in our historically high level of member support. With this new relationship, we plan to return to our usual level of support in the coming weeks. Members will receive email updates regarding the status of this transition.

We’re incredibly grateful to our team and all that we have built together as well as our investors who enabled us to turn the complex Stratos card into reality over the past 3 years.

To all of our backers, supporters, and c ...

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