TL;DR: Online Bitcoin retailer Purse io customer representative Eduardo Gómez announced, “We’ve made the very difficult decision to dissolve the company.” It clearly caught the ecosystem by surprise, bringing to an end more than half a decade of a once highly regarded industry business.

Purse io Announces Company Dissolution, Closure

“We’re grateful for the opportunity afforded by our supporters to build products and infrastructure for the cryptocurrency community,” Gómez continued. “We will continue to offer support for ongoing orders and withdrawals until June 26, 2020 to ensure all transactions and accounts are settled.”

New signups as of April 16, 2020 are disabled with platform functionalities set to expire on April 23, 2020. “Open orders that have not been matched will be canceled. Purse.io will cease operations on June 26, 2020. If you have a balance on Purse.io, please withdraw all funds as soon as possible,” Gómez stressed.

We've made the very difficult decision to dissolve the company. We're grateful for the opportunity afforded by our supporters to build products and services for the cryptocurrency community. — Purse (@PurseIO) April 16, 2020

It’s a rather poetic run for the online discount retailer, having opened in April of 2014, closing to the month. Its genius was offering a discount when using Amazon, presumably through affiliate arrangements and a lack of typical banking fees by way of cryptocurrencies such as Bitcoin Cash (BCH), the most popular payment method on the portal.

Though no specifics were offered, the average discount through Purse io was nearly 18%, but in recent days Amazon slashed its affiliate program. Commission rates will fall by as much as half as of April 21st, most likely gutting whatever margins Purse.io was able to eek out previously. Still, in the meantime over its six years, the company managed to serve more than 317,000 users, nearly as many users, saving more than $6 million.

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