16 June (Reuters) – Cryptocurrency infrastructure provider Wyre is winding down, sensing waning interest in a market once hailed as finance’s next frontier.
The decision, announced in a tweet on Friday, comes months after online cashier Bolt Financial scrapped its planned $1.5 billion purchase of Wyre.
Since then, the digital asset market has faced a high-profile bankruptcy of crypto exchange FTX and lawsuits from the US securities regulator against Binance and Coinbase Global (COIN.O).
Wyre’s decision was not a result of any regulatory action, and investors who hold assets on the company’s platform can withdraw them through the dashboard until July 14, it said.
Reporting by Niket Nishant in Bengaluru; Edited by Pooja Desai