Web3 payments infrastructure provider Fiat24 said it has suspended crypto asset deposits and temporarily stopped onboarding new users starting July 14. The company said the move was made because growth in its user base and transaction volume outpaced the expansion of its risk management, compliance, and customer support capabilities. Fiat24 said the pause is intended to support an upgrade of its internal control framework. The company added that international wire transfers, foreign exchange services, and P2P payments are continuing to operate as normal. It has not announced when crypto deposits will resume. The update was disclosed in a post published by Fiat24 on X.
Web3 payments infrastructure provider Fiat24 said in a post on X that it has suspended crypto asset deposits and temporarily stopped new user registrations starting July 14.
The company said growth in its user base and transaction volume had exceeded the pace at which it expanded its risk management, compliance, and customer support capabilities, prompting the move as it upgrades its internal control framework.
Fiat24 said international wire transfers, foreign exchange services, and P2P payments remain operational. It has not disclosed a timeline for resuming crypto asset deposits.
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