Juno, the Singapore-based cryptocurrency platform, announced that all services are “now up and running again.”
It increased daily withdrawal limits earlier in the year and urged clients to transfer their holdings to self-custodial wallets, citing problems with its previous custodial partner, Wyre.
get back on track
Juno temporarily arrested cryptocurrency purchases on its platform in early January and automatically converted stablecoins (USDC, USDT, mUSDC) to USD. It also revealed issues with its previous custodian, Wyre, encouraging clients to withdraw their assets or transfer them to cold wallets.
In a recent advertisement, the platform said that the “constant support” of its new partner Zero Hash brought operations back to normal. Co-founder and CEO Varun Deshpande said:
“We are delighted to restart our crypto services in record time with Zero Hash. With Crypto 2.0, we will focus on offering better platform reliability, more coin diversity, and better crypto prices. Given the events of 2022, we are committed to building a secure and compliant input/output product for the long-term growth of the industry.”
Zero Hash CEO Edward Woodford described Juno as a “well-intentioned” company and highlighted their mutual efforts to resume services after just three weeks.
Apart from that, the company introduced several updates, including zero trading fees and a better customer experience. It also added support for more than 35 digital currencies, with Solana (SOL), Shiba Inu (SHIB), and Dogecoin (DOGE) being a few examples.
The Juno Native Token (JUNO) price did not fluctuate after the news, holding at roughly the same level as 24 hours ago. Still, it’s up nearly 30% since the problems were announced in January.
Wyre also fixed the issues
Juno’s ex-custodial partner applied restrictions for users in early 2022, allowing them to withdraw no more than 90% of their possessions. Clients can 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 operations”. He also thanked customers for their patience amid 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 in mind. Thank you for trusting us with your business. We will continue to put our customers first as we return to growth,” he stated.
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