Suspended EPayments Platform Will Relaunch Without Crypto

EPayments is preparing to relaunch but there will be no crypto or peer-to-peer payments.

The EPayments online money transfer platform is restarting services following a seven month suspension – and notably absent this time around is support for cryptocurrencies.

EPayments is a global money transfer service that boasts over 1 million accounts and has issued 75,000 debit cards. According to their regulator filings, the firm made profits of $US23.2 million in 2019. The company has announced that it is preparing to “start working again” but as cryptocurrency accounted for one fifth of its business, relaunching without it is notable.

In other words, there will be no peer-to-peer payments provision in fiat or crypto.

EPayments took action to suspend all online payments, block pre-paid cards and it froze around a million customer accounts, after “agreeing” with the financial watchdog. At the time, there were reports that crypto was unlikely to be related to the cause of the crackdown.

Thay has yet to announce a date when its customers will have access to their accounts and services, however, when they do they will be on a very limited basis, highly monitored, and without any support for digital assets.

[image:pixabay]

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