IBEX Pay will end all U.S. services by May 31, 2024, prompting customers to swiftly transfer their funds.
In a recent announcement, IBEX Pay has informed its customers that it will be suspending all of its services in the United States effective May 31, 2024. The decision, which was described as being made after "careful consideration," marks a significant change for the company's operations within the U.S. market.
The company is directing its clients to arrange for their outstanding balances to be transferred to either their Swan accounts or Bitcoin addresses. IBEX Pay emphasizes the importance of clients providing this information promptly to avoid a protracted withdrawal process after the service suspension takes effect.
As of now, the exact reasons behind the suspension of services have not been detailed by IBEX Pay, but it is likely related to the recent use of money-transmitter laws by the U.S. government. Clients who currently rely on IBEX Pay for transaction services will need to transition to alternative providers before the May 31, 2024 deadline.
