Wallet of Satoshi Exits U.S. Market
A popular Lightning Network payment service provider, Wallet of Satoshi (WoS), has announced its decision to halt operations in the United States. The Australian-based company, founded by Daniel Alexiuc in 2018, offers a user-friendly app for managing bitcoin and Lightning Network transactions on iOS and Android devices.
In a recent update on X (previously known as Twitter), WoS informed its U.S. customers that it will be removing its app from the Apple and Google app stores and will no longer serve U.S. customers. The company emphasized that the decision was not made lightly and is driven by their commitment to security, compliance, and customer safety.
The statement from WoS expressed hope for future developments that may allow them to resume operations in the U.S., acknowledging the disappointment this news may bring to customers.
Record-Breaking Month for Wallet of Satoshi
Interestingly, this announcement comes at a time when Wallet of Satoshi was experiencing significant growth. According to Kevin Rooke, the platform was on track to process over 1.1 million Lightning payments in November. This surge in transactions was largely attributed to effective Lightning advertising strategies implemented by the company.
Hot Take: Wallet of Satoshi Bids Farewell to U.S. Market
Wallet of Satoshi, a prominent Lightning Network payment service provider, has decided to cease its operations in the United States. While specific reasons were not disclosed, the company prioritizes security and compliance globally. This move comes at a time when Wallet of Satoshi was experiencing remarkable growth, processing millions of Lightning payments each month. Although disappointing news for U.S. customers, there is hope for potential future developments that may lead to a comeback in the American market.
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