Crypto banking firm Juno has shrugged off the ripples of FTX’s crash and announced resumption. The popular crypto firm is set to resume its major crypto services following a cautionary suspension of activities because of the doom attracted to the market by FTX.
The suspension of activities began a month ago. However, the recent update signals that the crypto firm has discovered and explored other means to stay safe and remain unaffected by the FTX meltdown.
The resumption of services follows Juno’s collaboration with its new crypto custodian, Zero Hash. Juno’s CEO and co-founder, Varun Deshpande, said:
“Juno has been the primary gateway for many crypto natives to access DeFi and web3 directly from a checking account. We are delighted to restart our crypto services in record time with Zero Hash.
“With Crypto 2.0, we will focus on offering better platform reliability, more coin diversity and better crypto prices. Given the events of 2022, we are committed to building a secure and compliant on and off-ramp product for the long-term growth of the industry.”
In response to this collaboration, Zero Hash CEO and co-founder Edward Woodford said:
“We are pleased to be working with the whole team at Juno. We are pleased that Zero Hash has become the industry’s default trusted crypto infrastructure, providing stability, security, and reliability.
“Our shared commitment allowed Juno to resume their crypto services in just 3 weeks after their existing partner ceased operations. The events of 2022 and the impact this had on well-intentioned companies like Juno, is why we established our priority migration program, providing access to our 24/7/365 enterprise infrastructure.”
More details on Juno’s resumption
As an added provision with the resumption of its services, Juno has launched numerous features in a bid to attract more users and widen their scope of influence. Some of the added features include support for more than 35 additional cryptocurrencies, such as SOL, ADA, SHIB, and DOGE, and minimized spreads on new and existing offerings.
For every dollar customers trade in non-stablecoin tokens, the platform now offers a zero-fee trading incentive and a rewards program. The platform’s team is still working to restore L2 withdrawals and deposits as well as crypto payment services.
Due to the market slump and the failure of its previous cryptocurrency custodian, Wyre, Juno was forced to temporarily suspend its services at the beginning of January.
On January 4, news of Wyre’s closure and staff layoffs leaked, with the CEO of the business claiming that the company was still operational but curtailing operations and deciding its next course of action. In reaction, Juno increased daily withdrawal restrictions by five times and blocked new transactions in order to protect its users.
Zero Hash, a Seed CX subsidiary and Juno’s new cryptocurrency custodian, has registered with the Australian Transaction Reports and Analysis Centre as a supplier of digital currency exchange services (AUSTRAC). Additionally, it has registered with FinCEN as a money services business and FX dealer and is a money transmitter in more than 51 US states.
Businesses may simply add digital assets to their offerings using Zero Hash with no technical work and no added regulatory cost. Numerous well-known companies in the sector, including Sardine, MoonPay, Nium, and Current, have already signed on to the Zero Hash settlement service. Zero Hash boast of stress-free and dynamic operation. Juno users can be rest assured that with Zero Hash there is no problem.
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