Monero trading platform LocalMonero announced on Wednesday (8th) its decision to close the platform. The closure process will begin today and end in 6 months.
LocalMonero stated that it will cease all new registrations and Monero ($XMR) trading advertisement postings with immediate effect. After May 14th, the platform will stop new Monero trading. As the website will be shut down on November 7th, LocalMonero advises users to withdraw any funds from their wallets before then, otherwise, it may be considered as forfeited.
Launched in 2017, LocalMonero is the Monero version of the well-known Bitcoin peer-to-peer trading platform, LocalBitcoins, which has already ceased operations. The specific reason for the closure was not disclosed in the announcement released today, only stating that the decision was made due to a combination of internal and external factors.
LocalMonero also added that the upcoming decentralized exchanges, such as Haveno and Serai, as well as the recently announced privacy update called Full Chain Member Proofs (FCMPs), make them believe in the bright future of Monero, “with or without our platform.”
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