Crypto Wallet MetaMask Stops Supporting Payment Platform Wyre

Crypto Wallet MetaMask Stops Supporting Payment Platform Wyre

MetaMask no longer supports Wyre on its mobile aggregator.

MetaMask, a software cryptocurrency wallet established in 2016 by ConsenSys, has removed crypto payment platform Wyre from its mobile aggregator.

The news was revealed on official MetaMask’s Twitter account on January 5th.

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MetaMask stated that it is currently working on “Extension removal” and offered customers to use other payment platforms, like MoonPay, Transak and Sardine. These services are available on Apple Pay, bank cards or transfers.

The move from MetaMask comes only days after Wyre CEO Ioannis Giannaros reportedly sent an email to its employees stating that they may “need to unwind the business over the next couple of weeks.”

We'll continue to do everything we can, but I want everyone to brace themselves for the fact that we will need to unwind the business over the next couple of weeks.

MetaMask is not the only one cutting its ties with Wyre. On January 4th, crypto bank Juno urged its users to sell or self-custody their digital assets held in Juno checking accounts.

In the announcement, Juno claimed that it uses “crypto partners” to custody crypto assets. However, due to “uncertainty” with its crypto partner, which is believed to be Wyre, Juno recommended users withdraw their funds. 

On January 4th, digital collectables marketplace Veve also announced that it is suspending all “Payout and crypto pay-in (beta) requests.” The company noted that it is putting effort into working with Wyre “on all pending/incomplete payouts.”

Veve emphasized that all of its services are fully operational, and it will work on migrating providers. The company reassured its users that it doesn’t have plans to remove the “feature altogether”.

At the time of writing, Wyre hasn’t issued any official statements.

Gile K. - Crypto Analyst

by Gile K. - Crypto Analyst, BitDegree


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