• Crypto payments firm Wyre has announced that it is shutting down after 10 years in business due to market conditions.
• Customers may continue to withdraw their assets through July 14th, and a separate process will be available for those who do not.
• The decision to close was not made in response to 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. The decision to cease operations is said to be in the best interest of its customers and stakeholders, and was not due to any regulatory agency direction.

Withdrawal Period Open Until July 14th

Customers are able to withdraw their assets from the platform until July 14th. After that period, customers will have access their funds through a separate unspecific process. Details on this process will be posted on the website and blog shortly.

Planned Acquisition Nixed

In January of this year, 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 Stakeholders and Customers

The statement suggests that closing down was done in order protect key stakeholders and customers from unfavorable market conditions: “We made this decision to protect the best interest of our key stakeholders and customers.”

Remaining Updates Online

All remaining updates regarding asset recovery processes will be posted online via blog posts or website notifications as necessary.