Bottlepay App Is Closing Down Again
Bottlepay is a UK-based payments startup building FCA-regulated custodial services on Bitcoin and Lightning Network.
- "We’re very sorry to say that the Bottlepay consumer app will be closing on Monday 24th July 2023," the company wrote today.
- "Before that date, you should withdraw your funds, either as Bitcoin or fiat currency (GBP/EUR), from the Bottlepay app."
- "Over the coming days, we will be stopping all deposits and exchanges from fiat to Bitcoin. Therefore, you will only be able to exchange from Bitcoin to fiat and withdraw both fiat and Bitcoin."
- "Any Bitcoin left in your account after the closure date will be converted into fiat currency and returned to your nominated bank account. The resulting funds will then be transferred to your fiat account."
"We’ve loved every minute of running Bottlepay, and we’re incredibly grateful to you, the customers who let us do it for as long as we did. We can’t make recommendations about what to do with your Bitcoin - whether to find another custodial wallet, custody it yourself, or, convert it to fiat and withdraw to your bank account."
- Bottlepay was acquired by NYDIG for between $280-300 million in stock back in November, 2021.
- No further details on the closure were provided by Bottlepay but the shutdown seems to concern only the customer-facing app for now, and not the whole company.
- Bottlepay's operations were already shut down once due to strict regulations in the country back in 2019 but the service was relaunched in 2020.
