Flexa has officially shut down SPEDN, its crypto payments app that ran for seven years. The company confirmed the move on X on March 31, 2026, saying the app began as a proof of concept and helped show how digital assets could be used for instant, fraud-resistant payments in everyday retail settings.
SPEDN was built to demonstrate real-world crypto spending rather than serve as Flexa’s long-term mass-market product. During its run, users were able to pay with supported digital assets at participating physical merchants, making the app one of the earlier live examples inside Flexa’s broader payments network. In its statement, the company said: “As of today, SPEDN has officially been shut down,” while thanking users for 7 years of support.
Shutdown steps were announced in advance
The closure followed a schedule Flexa had already laid out. The company first disclosed the plan on Jan. 31, 2026 and gave users 60 days to prepare. An updated app release on March 10 added shutdown notices and withdrawal instructions. By March 31, spending functions were disabled and the SPEDN website had been turned into a recovery-focused page with guidance for users.
Flexa said remaining balances were migrated into Flexa-managed accounts, allowing deposited assets to remain accessible after the mobile app was removed. Users can still withdraw those funds to external wallets, keeping control of their holdings. In some withdrawal cases, identity verification applies as part of compliance requirements tied to financial oversight.
Focus moves from pilot app to payment rails
With SPEDN retired, Flexa is concentrating on infrastructure aimed at merchants and payment service providers. The company is building out tools including Flexa Payments and its software development kit, or SDK, with the goal of plugging digital asset transactions more directly into existing payment systems.
The shift shows a move away from a consumer-facing pilot and toward broader partner-led integration. Flexa also said reward accrual linked to the SPEDN pool is ending, meaning participants need to reallocate or withdraw related collateral. The company’s updated direction centers on scalable crypto payment systems built for merchant adoption and partner deployment.