Wyre Revived by Strategic Partner After Months of Turbulence

A crypto wallet founded in 2013, recently received financing from a strategic partner and lifted its depositing freeze and 90% withdrawal limit. stephen cheng has taken over as interim ceo, while ioannis giannaros has stepped into a different role. the additional capital will help wyre continue to deliver on its mission to simplify and revolutionize the global financial ecosystem.

News of wyre’s financing came after the online payments startup bolt’s $1.5 billion deal to acquire wyre fell through in september 2022. reports at the beginning of january this year alleged that its ceo had sent an email to his employees announcing that the company would be liquidated and services terminated this month. crypto wallet metamask announced that wyre would be removed from its mobile aggregator on january 6.

Strategic partner’s investment enabled wyre to lift its depositing freeze and 90% withdrawal limit, which had been implemented for user accounts on january 7. it is unclear who the strategic partner is, but their investment appears to be keeping the firm afloat for now. wyre has not immediately responded to decrypt’s request for comment. the recent negative headlines that have marred wyre’s history seem to have been allayed, at least temporarily, by the strategic partner’s investment.


By Evey Lovelace

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