Bitspark payment startup closes after six years of operation

Hong Kong payment startup Bitspark announced a complete cessation of work next month.

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CEO BitsparkGeorge Harrap said that users need to withdraw funds before March 4. After that, you can get the assets only by contacting the support service within 90 days.

Harrap emphasized that founded in 2014the startup closes due to a “failed internal restructuring plan” developed after COO Maxine Ryan left a month ago. Also, according to him, the situation was aggravated by the Hong Kong protests and the outbreak of coronavirus.

It is noteworthy that the company closes, despite a significant increase in financial performance and user base after the release of the Cash Point product.

Recall that earlier Bitspark issued a stablecoin pegged to the Hong Kong dollar.