Crypto Payments Firm Wyre Shuts Down — Users Told to Remove Assets From Platform

Wyre, the San Francisco-based crypto payments firm, has said it is winding down operations “in bid to support the champion interests” of its users and stakeholders. The steadfast urged users with assets connected its level “to proceed to retreat them via Wyre’s dashboard until Friday, July 14th.” A connection released by the steadfast said parties funny successful acquiring Wyre oregon its subsidiaries should interaction 88 Partners via email.

No Pressure From Regulatory Agencies

United States-based crypto payments steadfast Wyre said connected June 16 that it is winding down operations. According to a statement, Wrye’s determination to unopen down was made successful bid to “protect the champion interests” of its stakeholders and customers. The payments steadfast insisted that the determination was not forced connected Wyre by immoderate regulatory agency.

The firm’s determination to upwind down comes much than six months aft the CEO Ioannis Giannaros denied reports the payments level had unopen down. At the time, Giannaros alternatively claimed that Wyre was scaling back.

Users Urged to Remove Assets From Platform

However, successful the connection announcing the outgo platform’s shutdown, Wyre cited marketplace conditions arsenic 1 of the reasons wherefore it was winding down. The connection besides informed users of the adjacent steps they should take.

“If you person assets connected the Wyre platform, you tin proceed to retreat them via Wyre’s dashboard until Friday, July 14th. After then, we volition person a abstracted process to retrieve assets remaining connected the platform. We volition station details connected the process connected our website and blog. We volition stock much accusation implicit the coming weeks,” the payments work supplier said.

Wrye besides instructed individuals oregon companies funny successful acquiring the crypto payments steadfast oregon immoderate of its subsidiaries to interaction 88 Partners via email.

As reported by Bitcoin.com News successful Sept. 2022, Wyre’s woes seemingly started aft the U.S. tech institution Bolt abruptly pulled retired of a woody to get the San Francisco-based crypto payments work supplier for $1.5 billion. This was followed by reports successful aboriginal January which stated that Wyre had modified its withdrawal argumentation successful effect to deteriorating marketplace conditions.

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