Bitspark announces shut down of its exchange

Bitspark, a bitcoin service provider based out of Hong Kong, and announced that it will be shutting down its exchange, and instead will focus on its remittance services.

Its offerings had included a digital currency exchange that supports multiple fiat and digital currencies, a remittance service, merchant integration and loans. It did not charge any fees and operated in limited beta mode.

The exchange has cited the decision of closing the exchange as an opportunity to refocus on remittances, which are currently being supported in Philippines, Indonesia, Australia, Hong Kong and China. It has given a period of 30 days to its users to withdraw funds.

It has also revealed its plan to launch a prototype of a new product at the 2015 Innotribe Semi-finals in Singapore.