USD Transfers Service Halt from 25 July 2018

HONG KONG — 18 July 2018 — USD transfer service will be halted on 25 July 2018.

Due to continuing banking issues and on-going technical implementation issues, we are halting USD transfer services from 25 July 2018.

In the past few months, we have faced persistent technical issues associated with our USD transfer services. A variety of on-going technical integration challenges between the payment service provider and Gatecoin have left with no choice but to temporarily halt all USD transfers until we have found a suitable alternative.

Please ensure to process all USD credits on or before 25 July 2018, we will not accept any credits after 25 July. Credits been made on or before 25 July 2018 will be marked as “pending in”, this will need a time frame before being reflected in your Gatecoin balance.

It is important to note that EUR transfers will not be affected by these changes.

It is important to note that we are not the first exchange to have issues with fiat withdrawals. If you are wanting to learn more about why this is increasingly happening in the cryptocurrency space, please take a look at the articles below:

Hong Kong Banks Continue to Shut Down Bitcoin-Related Accounts

Hong Kong Banks Turn Back on Bitcoin

We continue to explore a variety solutions and have several of these options in testing. We hope to have an update at the end of the month to inform you of our movements.

Thank you again for your understanding and continuous patience with us during these temporary measures.

The Gatecoin Team

If you are a journalist with questions about this update, please email media@gatecoin.com.