The Brazilian cryptocurrency brokerage OmniTrade announced on Thursday (26) the end of its operations from the next 07, which is also the deadline for customers to withdraw bitcoins and other cryptocurrencies.
According to a statement to customers, deposits in cryptocurrencies and reais have already been suspended as of the date of the announcement. The markets, he wrote, will be closed on the 31st of this month.
"It is with deep regret that we announce the closure of OmniTrade operations, which will take place on April 7, 2020," said the broker.
According to the note, the reason for the closure was “the worsening of the current global financial crisis”.
However, predicting rumors about lack of funds around the decision, company founder Fábio Akita said that the company was always solvent.
As he explained to the Bitcoin Portal, Akita predicts a period of recession and decided to take precautions.
“First of all, I think that the biggest concern everyone has is whether we are closing due to lack of funds or something. We are going to make it clear that OmniTrade is 100% solvent, both in reais and crypto, ”he said in the report.
Asked about the deadline for clients to withdraw funds, if it was not too short, Akita said that "the deadline is more than enough".
As he explained, if someone misses the deadline they will be able to request the withdrawal later – which will be done manually.
"No customer will be left behind, but it helps us a lot to get out quickly so that we can close the operation," said the businessman.
Broker thanked customers for their trust
OmniTrade started trading more than two years ago and recently had a daily volume of 8 BTCs, according to Akita.
The company is a kind of subsidiary of the software company Codeminer 42, based in São Paulo, which also has partner Fábio Akita.
"OmniTrade is 100% owned by CodeMiner 42, we never had outside investors, and all the technology we create is 100% ours too, we never license anything from anyone," he reported.
When it was launched, the broker arrived with a differential: authentication through physical cryptocurrency wallets. In its portfolio, the main cryptocurrencies – Bitcoin, Litecoin, Ether, XRP, the stablecoin USD Coin, among other crypto.
As the note explained to clients, the broker was solid in the cryptocurrency market due to the trust of its clients.
“We would like to thank you immensely for the trust you have placed in us over these 2 years of journey in the promising Brazilian crypto market. "We are very proud of what we built".