Crypto firm Juno is relaunching its services after finding a new custody partner

Crypto firm Juno is relaunching its services after finding a new custody partner

Singapore-based cryptocurrency platform Juno announced that all services are “now operational again.”

It increased daily withdrawal limits earlier this year and asked customers to transfer their holdings to self-custody wallets, citing issues with its previous custody partner - Wyre.

Back on track

Juno temporarilystoppedCryptocurrency purchases on its platform in early January and automatically converted the stablecoins – USDC, USDT, mUSDC – into USD. It also revealed issues with its previous custodian – Wyre, encouraging customers to withdraw their assets or transfer them to cold wallets.

In a recentnotice, the platform said the “constant support” of its new partner Zero Hash has returned operations to normal. Co-founder and CEO Varun Deshpande said:

"We are excited to relaunch our crypto services with Zero Hash in record time. With Crypto 2.0, we will focus on offering more platform reliable coin diversity and better crypto pricing. Given the events of 2022, we are committed to building a secure and compliant on- and off-ramp product for the long-term growth of the industry."

Zero Hash CEO – Edward Woodford – described Juno as a “well-intentioned” company and highlighted their collective efforts to resume services after just three weeks.

Apart from this, the company introduced several upgrades including no trading fees and improved customer experience. It also added support for over 35 digital currencies, including Solana (SOL), Shiba Inu (SHIB), and Dogecoin (DOGE), to name a few examples.

The price of Juno's native token (JUNO) did not fluctuate following the news and remained at approximately the same level as 24 hours ago. Still, it has risen almost 30% since the issuances were announced in January.

Wyre also fixed the problems

Juno's ex-depot partnerappliedRestrictions on users in early 2022, allowing them to withdraw no more than 90% of their holdings. Customers could withdraw a maximum of 5 BTC and 50 ETH per day.

A few days later, Wyre received important financial support from a “strategic partner.”restoredits “normal operating procedure”. It also appreciated customers’ patience amid the disruption as well as the crypto community for their “positive sentiments.”

"We will continue to operate with transparency and in the best interests of our customers and partners. Thank you for trusting us with your business. We will continue to put our customers first as we return to growth," it said.

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