Crypto payment platform Wyre says it is resuming its normal course of operations, including removing a 90% withdrawal limit for customers after help from a 'strategic partner.'
The limits were imposed just two days after former employees hinted at the possibility of the firm’s shutdown. Explaining the withdrawal cap then, Wyre said it was in “the best interest of our community,” without divulging further.
However, as of the latest update, Wyre says it has now removed that cap and full withdrawals and deposits are permitted again after receiving “additional capital” from an unnamed “strategic partner.”“This additional capital will help us continue to deliver on our mission to simplify and revolutionize the global financial ecosystem,” it added.
Wyre provides real-time payouts, same-day transfers, direct-to-bank transfers, and cross-border payments in fiat and crypto. The company was acquired by fintech firm Bolt for $1.5 billion in April 2022.
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