The Bitwala platform will continue to operate as a crypto bank

The Bitwala trading platform informs about a change in the direction of activity towards a crypto bank. This decision was made in connection with the suspension of debit card services by Visa.

In early January, we reported that Visa has stopped supporting some Bitcoin debit cards. One of the cryptocurrency platforms whose payments were blocked was the Bitwala company. Today, Bitwala specialists, together with WaveCrest, are working to return funds to their users. But the problems of the Bitwala resource did not end there:

“On December 29, our bank notified us that it was studying the movements on our accounts and temporarily stopped movements on them. We have removed the bank transfer feature from the control panel on our site and have advised users of delays in transactions. However, yesterday the bank informed us that due to a change in their policy, they decided to terminate their relationship with us and close their accounts completely,” company representatives said.

Despite the current situation, Bitwala assured its users of the safety of their assets, which will certainly be returned, although the procedure may take a long time.

In parallel with this, work is underway to transform the Bitwala trading platform into a cryptocurrency bank. On the new platform, customers will be able to open bank accounts, and debit cards will not require additional replenishment. All accounts will be able to make not only digital currency/fiat transactions, but also reverse transactions.

After a complete update and restructuring, Bitwala intends to continue working on the ICO project. The token sale planned for the beginning of the year has not been completely canceled; only the program start dates will change.

According to cryptocurrency.tech