Home Crypto News Crypto Agency Juno Restarts Companies After Discovering a New Custodian Accomplice

Crypto Agency Juno Restarts Companies After Discovering a New Custodian Accomplice

by Cryptoroz

The Singapore-based cryptocurrency platform Juno introduced that each one providers are “now up and operating once more.”

It elevated day by day withdrawal limits at the start of the yr and urged clients to switch their holdings into self-custody wallets, citing points with its earlier custodian companion – Wyre. 

Again on Observe

Juno briefly halted cryptocurrency purchases on its platform in early January and auto-converted the stablecoins – USDC, USDT, mUSDC – to USD. It additionally disclosed issues with its earlier custodian – Wyre, encouraging shoppers to withdraw their belongings or switch them into chilly wallets.

In a latest announcement, the platform mentioned the “fixed assist” from its new companion Zero Hash introduced operations again to regular. Co-Founder and CEO Varun Deshpande mentioned:

“We’re delighted to restart our crypto providers in document time with Zero Hash. With Crypto 2.0, we are going to concentrate on providing higher platform reliability, extra coin range, and higher crypto costs. Given the occasions of 2022, we’re dedicated to constructing a safe and compliant on and off-ramp product for the long-term development of the trade.”

Zero Hash’s CEO – Edward Woodford – described Juno as a “well-intentioned” firm and highlighted their mutual efforts to renew providers after simply three weeks. 

Aside from that, the agency launched a number of upgrades, together with zero buying and selling charges and improved buyer expertise. It additionally added assist to over 35 digital currencies, with Solana (SOL), Shiba Inu (SHIB), and Dogecoin (DOGE) being some examples. 

The value of Juno’s native token (JUNO) didn’t fluctuate after the information, maintaining roughly the identical stage from 24 hours in the past. Nonetheless, it has surged almost 30% since saying the problems in January.

Wyre Additionally Fastened the Issues

Juno’s ex-custodian companion utilized restrictions for customers at the start of 2022, permitting them to withdraw not more than 90% of their ownings. Shoppers might take out a most of 5 BTC and 50 ETH per day.

Wyre obtained important monetary assist from a “strategic companion” a couple of days later and restored its “regular course of operations.” It additionally appreciated the shoppers’ persistence amid the dysfunction, in addition to the crypto group for his or her “constructive sentiments.”

“We’ll proceed to function with transparency and with the most effective pursuits of our clients and companions at coronary heart. Thanks for trusting us with your corporation. We’ll proceed to place our clients first as we return to development,” it said.

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