Airtm Winds Down Cryptocurrency Trading, Exchanges All Funds to Native Stablecoin

on popular cryptocurrency exchanges and wallets in Latin America One Airtm has announced that it will no longer be trading and storing cryptocurrencies on its platform. The company said that from January 4, 2023, all cryptocurrency deposits and withdrawals will be suspended due to a change in the provider’s one of his service offerings.

Airtm Removes Cryptocurrency Trading Options

Airtm, a popular exchange used by freelancers in Latin America, has announced that it will shut down its cryptocurrency trading and custody services. bottom. The company, which has more than 2 million customers in the region, said in a message on its platform that it would be discontinuing cryptocurrency-based services on its wallets, preventing customers from depositing or withdrawing cryptocurrency funds on exchanges.

This action was taken by the company, possibly due to a change in services offered by an unidentified provider. A local source saidthat the provider is Wyre, a cryptocurrency-based payment company. The company recently said it was “downsizing,” announcing new limits on withdrawals after conflicting reports indicated the company was downsizing its operations.

In addition to this, the company also claims that the funds available in the cryptocurrency have been audited by the Financial Crimes Enforcement Network (FinCEN), a dollar-pegged native stablecoin. Some said it has been converted to Airusd. Some users reported that they had confirmed exchange operations on their accounts, but funds were not available by January 6th.

Bank deposits suspended as part of a series of “precautionary measures” implemented by

making changes. Airtm has informed that direct deposits to these banks have been suspended until further notice, impacting thousands of freelance customers who commonly use this feature.

However, the company did not clarify whether these measures were temporary or whether they would include cryptocurrency trading and bank deposits in the future.

Previously , Airtm was very active in Venezuela, acting as the main broker for the delivery of a $300 bond given to the country’s health workers by the now-defunct caretaker government. This prompted the current government to try to block his access to Airtm’s site.

Also in 2018, the organization launched a fundraising campaign, offering a $1 million airdrop to benefit her more than 100,000 Venezuelans who registered and identified on the platform. brought.

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