Crypto Payments Firm Wyre Shuts Down After 10 Years

• Crypto payments firm Wyre announces that it is shutting down due to market conditions.
• Customers will be able to withdraw their assets until July 14th.
• The decision was not influenced by any regulatory agency direction.

Crypto Payments Firm Wyre To Shut Down

Crypto payments service Wyre has announced that it is shuttering its doors after being in the business for 10 years, citing harsh market conditions.

Decision In Best Interest Of Stakeholders and Customers

In a new statement, Wyre says that the decision to cease operations is in the best interest of its customers and stakeholders. The digital asset infrastructure provider ensures that users can withdraw their assets from the platform until July 14th.

No Regulatory Agency Direction Influencing Decision

Wyre clarifies that the decision was not due to any regulatory agency direction. After July 14th, customers will have to use a separate unspecific process to access their funds.

Failed Acquisition Deal With Bolt Financial

In January, reports surfaced that Wyre would be closing up shop after software development firm Bolt Financial reneged on its deal to acquire the platform for $1.5 billion. At the time, it was announced that Bolt and Wyre mutually agreed to nix the deal.

Protecting Customer Assets

Wyre continues to secure customer assets and provides details about how they can access them on their website and blog before July 14th deadline passes by.