Singapore-based cryptocurrency platform Juno has announced that all services are “now back up and running.”
It increased daily withdrawal limits earlier this year and urged customers to transfer their holdings to self-custody wallets, citing issues with its former custodian partner – Wyre.
Back on track
Juno temporarily stopped cryptocurrency purchases on its platform in early January and auto-converted stablecoins – USDC, USDT, mUSDC – into USD. He also revealed issues with his former custodian, Wyre, encouraging clients to withdraw their assets or transfer them to cold wallets.
In a recent announcement, the platform said the “constant support” of its new partner Zero Hash has brought operations back to normal. Co-founder and CEO Varun Deshpande said:
“We are excited to restart our crypto services in record time with Zero Hash. With Crypto 2.0, we will be focusing on better platform reliability, greater coin diversity, and better crypto prices. Given the events of 2022, we are committed to creating a secure and compliant entry and exit product for the long-term growth of the industry.
Zero Hash CEO Edward Woodford described Juno as a “well-meaning” company and highlighted their mutual efforts to resume services after just three weeks.
Apart from this, the company has introduced several upgrades including zero trading fees and improved customer experience. It has also added support for over 35 digital currencies, of which Solana (SOL), Shiba Inu (SHIB), and Dogecoin (DOGE) are a few examples.
The price of the native Juno token (JUNO) did not fluctuate after the news, keeping roughly the same level as 24 hours ago. Still, it has jumped almost 30% since news broke of the problems in January.
Wyre also fixed the issues
Juno’s ex-guardian associate applied restrictions for users in early 2022, allowing them to withdraw no more than 90% of their holdings. Customers could withdraw a maximum of 5 BTC and 50 ETH per day.
Wyre received vital financial support from a “strategic partner” a few days later and restored its “normal course of business”. He also appreciated the patience of customers amidst the mess, as well as the crypto community for their “positive sentiments.”
“We will continue to operate with transparency and with the best interests of our customers and partners at heart. Thank you for trusting us with your business. We will continue to put our customers first as we return to growth,” he said.
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