Fearing A Shutdown After 6 Years, Purse Could Be Saved By An Acquisition; Roger Ver in ‘Talks'

Purse.io, a Bitcoin oriented startup, that recently announced it would be closing its operations in June 2020 seems to have changed this position. The company’s support manager, Eduardo Gomez, released a statement on 23 April noting that the firm has received numerous acquisition interests from prominent stakeholders within the crypto markets,

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

Given this development together with overwhelming community support, Purse has since reconsidered its previous decision and likely to postpone its operations wind up. Gomez further highlighted that the shop and earn feature which was to be disabled on April 23 will remain functional.

In its April 16 announcement, Purse had informed its clients to withdraw their funds before June 26 which had been set as the official winding up day. In addition, the platform had ceased to register new signups following the closure announcement last week.

New Possibilities for Purse.io

Despite what seemed like the final months for Purse.io, the Bitcoin and BCH oriented startup is showing signs of a bounce back. Apart from the company statement, Gomez also shared the promising prospects of Purse.io on twitter where he seemed enthusiastic about its future,

“Good news everybody! It looks like Purse is here to stay.”

Gomez, however, did not go into the details of which big whales in crypto are looking to acquire Purse.io hence the sudden strategic change. This has left stakeholders speculating on Bitcoim.com CEO, Roger Ver, as one of the investors. The BCH evangelist posted a video earlier this week saying that he was in talks with Purse.io given their significance thus far,

“Purse is too important for the ecosystem to let disappear. I don’t think [Purse] is going to go anywhere,”

Could Binance acquire the 6 year old startup? They have been on a tear in the past few years gobbling up crypto businesses.

Purse, which started back in 2014, has been linking Amazon gift card owners with BCH and BTC investors to the benefit of both parties. Ideally, one can pay either of the two crypto coins in exchange for purchases by the Amazon gift card users.

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Edwin Munyui
Edwin Munyui
Edwin is a FinTech enthusiast with a particular interest in blockchain technology and cryptocurrencies. He has worked as an author in the blockchain space since 2017 and enjoys creating content that both crypto veterans and newbies can understand. His simple writing style and financial market knowledge have made him a reputable fundamental and technical analyst with the ability to handle any topic around blockchain and crypto over the years.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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