Wyre, a cryptocurrency payment platform, is proud to announce that it has received enough funding from a strategic partner to keep the company afloat and functioning as normal, allowing them to remove the 90 percent withdrawal restriction imposed last week.
This news was accompanied by a statement by former employees of the company about their intention to suspend the provision of services due to lack of funds and an unsuccessful acquisition of Bolt in September. Ioannis Giannaros, the head of Wire, commented that although they still provide services as usual, they are looking for ways to reduce their activities.
However, to stop customers from leaving completely, Wyre imposed withdrawal restrictions on Jan. 8 and has so far said those restrictions will be lifted due to the receipt of additional funding from an unnamed partner.
Previously, the Singapore cryptocurrency trading platform Bibit had a restriction on withdrawing funds without proof of identity. It should be noted that this exchange was among those who refused to prevent Russian clients from accessing their services.