{"id":16257,"date":"2023-01-09T10:14:09","date_gmt":"2023-01-09T10:14:09","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/airtm-winds-down-cryptocurrency-trading-exchanges-all-funds-to-native-stablecoin-exchanges-bitcoin-news\/"},"modified":"2023-01-09T10:14:09","modified_gmt":"2023-01-09T10:14:09","slug":"airtm-winds-down-cryptocurrency-trading-exchanges-all-funds-to-native-stablecoin-exchanges-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/airtm-winds-down-cryptocurrency-trading-exchanges-all-funds-to-native-stablecoin-exchanges-bitcoin-news\/","title":{"rendered":"Airtm Winds Down Cryptocurrency Trading, Exchanges All Funds to Native Stablecoin \u2013 Exchanges Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Airtm, a Latam popular cryptocurrency exchange and wallet, has announced it is winding down cryptocurrency trading and custody in its platform. The company stated that starting Jan. 4, 2023, all cryptocurrency deposits and withdrawals would be paused due to the changes in the service offer of one of its providers.<\/strong><\/p>\n

Airtm Removes Cryptocurrency Trading Options<\/h2>\n

Airtm, a popular exchange used by freelancers in Latam, has announced it is winding down cryptocurrency trading and custody services. The company, which has more than 2 million customers in the region, disclosed in a message on its platform that they were retiring cryptocurrency-based services in its wallet, leaving customers unable to deposit or withdraw their cryptocurrency funds out of the exchange.<\/p>\n

The action was taken by the company supposedly due to the change of the services offered by an unidentified provider. Local sources state<\/a> this provider is Wyre, a cryptocurrency-based payments firm, which has recently stated<\/a> it is \u201cscaling back\u201d and announced a new limit for withdrawals after conflicting reports indicated the firm was winding down its operations.<\/p>\n

In addition to this, the company further stated that available funds in crypto are being converted to Airusd, its dollar-pegged native stablecoin, claimed to be audited by the Financial Crimes Enforcement Network (FinCEN). Some users reported having seen the exchange operations in their accounts, but their funds were still unavailable by Jan. 6.<\/p>\n

Bank Deposits Paused<\/h2>\n

As part of a set of \u201cpreventive actions\u201d exerted by the company, it is also making changes to the supported operations in European and U.S.-based banks. Airtm informed that direct deposits to these banks were suspended until further notice, affecting thousands of freelance customers that commonly make use of this feature.<\/p>\n

However, the company did not indicate whether these measures were temporary or if it will include cryptocurrency trading and bank deposits again in the future.<\/p>\n

In the past, Airtm was very active in Venezuela, having been the main facilitator for the delivery of a $300 bond given by the now-defunct<\/a> interim government to the medical workers of the country. This prompted the current government to try to block<\/a> access to Airtm\u2019s site.<\/p>\n

Also, in 2018, the organization launched<\/a> a fundraising campaign to give an airdrop of $1 million that would benefit more than 100,000 Venezuelans registered and identified on the platform.<\/p>\n

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airtm<\/a>, airusd<\/a>, Cryptocurrency Trading<\/a>, Custody Services<\/a>, european banks<\/a>, fincen<\/a>, Freelancers<\/a>, restrictions<\/a>, U.S banks<\/a>, Venezuela<\/a>, Wyre<\/a><\/div>\n<\/div>\n

What do you think about Airtm dropping cryptocurrency trading and restricting bank operations? Tell us in the comments section below.<\/strong><\/em><\/p>\n

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\nSergio Goschenko <\/h6>\n

\nSergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, Editorial photo credit: Juan Roballo, Shutterstock.com<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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