The much loved CirclePay is being discontinued by its host company, Circle Internet Financial Limited after 5 successful years of operation. It was an app based “Pay anyone” product but its stand out feature was no fees. No transfer fee, no receiving fee and best of all no exchange rate mark up fee where most others tend to have large mark ups here.
The product was highly popular in the camming/findom world for its no fees, ease of use and stability. It served 29 countries including the US, UK and EU.
The closure was announced via their US site and by email to all members.
Their website reads:
Why is Circle Pay discontinuing?
Circle believes that the future of finance will be built on open blockchain technology and that global payments will become reality through fiat tokens and stablecoins such as USDC. Circle Pay clarified that vision over its successful 5-year lifespan, but it also largely relies on interfacing with the traditional financial system and untokenized fiat currencies.
As such, we believe that it is appropriate to discontinue Circle Pay at this time. We will continue to work toward connecting every person on the planet through an open financial system built on crypto assets and blockchain technology through CENTRE and USDC, and in other Circle products such as Poloniex and SeedInvest.
All customers who use Circle Pay to send, receive or hold US Dollars, British Pounds or Euros are affected at this time. Your account will undergo changes starting on July 8th, 2019.
Circle Invest, Poloniex and SeedInvest customers are not affected by these changes.
July 8th 2019: Adding money and sending money will be disabled.
September 30th 2019: Support will be fully discontinued for CirclePay
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