After Juno urged his users to withdraw funds amidst the ongoing instability of Wyre (Juno’s custody partner), the popular Metamask also removes the company from its aggregator’s list.
Wyre, the crypto payment company was founded in the year 2013 in San Francisco. The company was valued at $1.5 billion during the year 2022. However, today the company is on the verge of shutting down its operations.
In April 2022, the US–based E-commerce company Bolt agreed to acquire Wyre. But, as a result of the massive crypto bear market, Bolt decided to scrap the deal in September 2022. This withdrawal of the acquisition deal brought operational instability to the crypto payment company, Wyre, amidst which it failed to sustain itself in the market.
Reportedly, Metamask would end support for services of the Wyre platform and has also removed it as its mobile aggregator that initially allowed users to buy crypto directly through the talked wallet. Metamask took to Twitter to announce this and further stated that the wallet company is working on extension removal which would take some time.
However, Metamask still supports a wide range of other payment gateways such as MoonPay, Sardine, and Transak on Apple Pay, bank cards, and transfers.
Such reports blew the internet soon after Wyre CEO Loannis Giannaros announced to its employees that the company is soon going to shut down its operations. Further stating that the company would continue doing everything to its potential to stay operative but would soon need to unwind the business.