Bitstamp announces suspension of payment services during US bank holiday
Bitstamp announces suspension of payment services during US bank holiday
Due to the upcoming Independence Day holiday on July 4, 2024, Bitstamp announced that their bank payment clearing system for incoming and outgoing USD payments will be paused.
In a recent announcement, Bitstamp, one of the big cryptocurrency exchanges, has notified its users of an operational pause in USD payment services coinciding with the US Independence Day holiday on July 4, 2024. This decision will temporarily halt both incoming and outgoing USD payments due to the closure of US banks on that day.
While the bank holiday affects USD transactions, Bitstamp has assured users that other payment methods, including EUR SEPA transfers, GBP FPS transfers, and transactions via credit card, Google Pay, Apple Pay, and PayPal, will remain operational. The exchange emphasized that clients could continue using these alternatives without disruption and that other services will not be affected.
Bitstamp encourages users to plan their transactions accordingly, anticipating the one-day suspension of USD payments. The exchange has offered support through their client service channels for any queries or additional information needed by users.
This operational pause highlights the interdependency between cryptocurrency exchanges and traditional banking systems.
As digital currencies and their exchanges become increasingly mainstream, the synchronization of services with conventional banking holidays and schedules is important for seamless operation.
Users and investors are reminded to stay informed about such interruptions to avoid unexpected delays in their transactions.
Bitstamp, a European cryptocurrency exchange, was founded in 2011. It is the longest running crypto exchange in the world. It allows trading of fiat – USD, EUR, GBP and cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Algorand, Stellar and USDC. Business operations are conducted from the registered office in Luxembourg City, with a satellite office in Ljubljana.
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