Purse.io Shuts After Six Years of Operation

The company was one of the first to offer Bitcoin rewards.

Purse.io, a Bitcoin-based Amazon payments facilitator, has decided to shut its services.

Announced on Thursday, the company did not specify the exact reason behind the harsh decision.

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“We’ve made the very difficult decision to dissolve the company. We’re grateful for the opportunity afforded by our supporters to build products and infrastructure for the cryptocurrency community,” the official announcement stated.

Making Bitcoin mainstream

Launched in 2014, the San Francisco-based company was offering rewards in Bitcoin for purchases on Amazon.com. Though many startups are now offering such services, Purse.io was among the first to reward Bitcoin.

The company also partnered with Amazon gift card sellers and paired them with buyers willing to pay in Bitcoins, thus playing a major role in boosting Bitcoin adoption.

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In its six-year of service, the company added more than 317,000 users, according to its website.

“It’s been a privilege serving people all around the world. We’re thankful for our customers who used purse.io increasing bitcoin’s utility and distribution,” the announcement added. “We’re also thankful to all the developers and companies who continue to support open source projects including Bcoin and HSD.”

The company also detailed that it will support ongoing orders and withdrawals until June 26, ensuring the settlement of all transactions. However, it has terminated taking new users.

“Shop” and “earn” functionality on the platform will be terminated on April 23. The platform also urged users to withdraw funds as soon as possible.

Meanwhile, various uncertainties in the market are also forcing many crypto companies to terminate their services. Last week, Bytepool, one of the top Bitcoin mining pools, decided to shut its operation, moving towards altcoins.

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