Bitcoin-Based Payment Facilitator Purse.io Reconsidering Closure, Citing Community Support

Bitcoin-Based Payment Facilitator Purse.io Reconsidering Closure, Citing Community Support

Bitcoin (BTC) payment facilitator Purse.io says it is now reconsidering closure because of “a tremendous outpouring of community support”, just a few days after the announcement of closing their business after six years of service.

The veteran business, which offered a handy workaround and discount to Amazon shoppers for paying with Bitcoin (BTC), had initially said it would deactivate its “shop and earn” feature Thursday, April 23, and eventually cease all operations by late June.

In its recent update, Purse says that the overwhelming response from the community has caused the team “to reconsider our decision” since they announced their intentions to shut down:

“Several parties — including well known Bitcoin advocates, high volume users, and established cryptocurrency companies — reached out with interest in acquiring purse.io.”

With this response in mind, Purse has chosen to keep “shop and earn” functional and is asking the public to stay tuned for further development. Meanwhile, the Purse team is now vetting new ownership for the platform, it has revealed.

Multiple users on social media said the role of the company in facilitating peer-to-peer (P2P) bitcoin transactions was key to their positive experience with cryptography.

Purse had offered a community-led service that paired users and allowed them to trade their Amazon gift cards directly for the cryptocurrency of others, using discounts to incentivize participants.

Recently, Visa’s support for Fold, a mobile app compatible with the Lightning Network, which offers Bitcoin rewards to users while shopping at major retailers like Amazon, although not P2P.

Purse.io Shutting Down Decision After 6 Years

Cryptolydian reported earlier that, Bitcoin-based Amazon payment facilitator, Purse.io, has announced that they are closing their business after six years of service.

“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 infrastructure for the cryptocurrency community,” the company said in an April 16 statement.

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Abdulhay Mahmoud 414 Articles
Abdulhay Mahmoud is a creative writer with over 15 years of experience in journalism, translation, and investor relations. He has B.A in English and Literature from a reputable University. He recently became a contributor at Cryptolydian.com to fulfill his thirst in reporting digital coins and blockchain-related news, an interest was built over the years.