ME News reports that on July 30 (UTC+8), Web3 payment infrastructure provider Fiat24 tweeted that, due to the rapid growth in user base and transaction volume outpacing the expansion of its risk management, compliance, and customer support capabilities, it has suspended cryptocurrency deposits and temporarily halted new user registrations since July 14 to upgrade its internal control systems. International wire transfers, foreign exchange conversions, and P2P payments continue to operate normally, with no announced timeline for the resumption of cryptocurrency deposits. (Source: Foresight News)
Fiat24 Pauses Crypto Deposits and New User Registrations to Upgrade Internal Controls
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Summary
Fiat24 has paused crypto deposits and new user sign-ups to perform a blockchain upgrade. The suspension began on July 14 as the company addresses capacity limitations in compliance and customer support, driven by transaction growth that has outpaced internal systems. The upgrade will focus on enhancing risk management. Wire transfers, forex, and P2P services remain operational. No timeline has been provided for the resumption of crypto deposits.
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