Crypto Marketplace Purse.io to Dissolve Operations After 6 Years

On April 16, the crypto firm Purse.io announced the company is planning to dissolve after six years of operation. The marketplace provided incentives for people who wanted the lowest price points by leveraging cryptocurrency solutions. New signups on Purse have been disabled and the company’s doors will officially close in June.

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The cryptocurrency marketplace Purse.io is shutting down soon after launching the platform in 2014. The company allowed people to leverage cryptocurrencies like BTC and BCH in order to purchase a myriad of products on Amazon. Purse.io customers often saved customers up to 20% or more by using the platform.

The San Francisco-based company was a very popular marketplace among bitcoiners and it was founded by Andrew Lee, Christopher Jeffrey, Kent Liu, and Steven Bower. On Thursday, Purse.io customer representative Eduardo Gómez told the public the firm would be dissolving soon.

“We’ve made the very difficult decision to dissolve the company,” Gómez wrote. “We’re grateful for the opportunity afforded by our supporters to build products and infrastructure for the cryptocurrency community.” Gómez continued:

To everyone who used our products, told their friends, or helped us in any way, thank you.

Open-Source Projects Like Bcoin – Ipayyou.io Welcomes Purse Customers

The team said that as of April 16, 2020, all new signups would be disabled and as of April 23, the “Shop” and “Earn” functionality will be disabled. “Open orders that have not been matched will be canceled, and Purse.io will cease operations on June 26, 2020,” Gómez stressed. Further, Purse.io developers also worked on open-source cryptocurrency projects like HSD and Bcoin. In fact, the Bcoin block #457010 on the BTC chain was the first block ever mined by a client that was not written in Satoshi Nakamoto’s C++ framework. Gómez added:

We’re also thankful to all the developers and companies who continue to support open-source projects including Bcoin and HSD. Thank you for helping us make crypto useful.

The cryptocurrency community on social media and forums were saddened by the news, as Purse.io was an early and long-lasting venture. For people looking for an alternative platform to Purse.io, the company ipayyou.io offers a similar marketplace. Ipayyou.io supports BTC and BCH and the company’s Twitter account tweeted that the company “welcomes all Purse customers, shoppers, and earners.”

What do you think about Purse.io dissolving? Let us know in the comments below.

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