Relay to discontinue fiat on/off ramp payments as of June 30, 2020
Today marks the 1 year anniversary of the launch of RelayX Superwallet and its associated products. One of the most notable value propositions behind the BitCoin company was our fiat on/off ramps using legacy mobile wallets such as CashApp, Venmo, Alipay, WeChat and more.
Founded on April 1, 2019, Relay is announcing that fiat on/off ramp payments will absolutely be discontinued as of June 30, 2020. We are making this decision as we believe users should remain in the BitCoin ecosystem rather than exiting it. We will unveil exciting alternatives before June 30.
In the past year our network has processed over $100,000 in cumulative fiat payments over traditional fiat based mobile wallets.
Going forward, we understand businesses and individuals earning and receiving payments on the BitCoin network will continue to desire convertibility to real assets to hedge volatility in the BSV asset price. Yet we do not believe traditional fiat rails efficiently fulfills this market demand.
Thank you for your continued support of Relay and our team looks forward to growing with you in the coming year. Stay safe and stay tuned.