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Goodbye, Wyre? MetaMask Ceases Support For Struggling Crypto Payments Platform

Cryptocurrency wallet provider MetaMask will no longer support payments platform Wyre as the latter is reportedly closing down.

In a tweet on Jan. 5, MetaMask stated that it had removed Wyre from its mobile aggregator, which allows users to buy cryptocurrency directly through the digital wallet.

The wallet provider added that it is working on the removal of the extension and asked users to stop using Wyre on the mobile aggregator.

Also read: Meta Bets Go Bust As Digital NFT Land Prices Plummet: Are Investors Wasting Money?

Despite ending support for Wyre, MetaMask said it still supports a number of other payment gateways, including Transak, MoonPay, and Sardine, which can be accessed via Apple Pay, bank cards, and bank transfers.

Wyre CEO Ioannis Giannaros told employees: "We'll continue to do everything we can, but I want everyone to brace themselves for the fact that we will need to unwind the business over the next couple of weeks."

San Francisco-based Wyre, founded in 2013, almost received a $1.5 billion offer from e-commerce startup Bolt in April 2022. However, the deal was eventually scrapped in September due to the bear market in cryptocurrency.

Next: Fraud, Scams And Contagion Risk – FDIC Outlines Risks And Seeks 'Proposals' From Banks Dealing With Crypto

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