Google Ventures and Y Combinator backed bitcoin exchange startup Buttercoin, which is shutting down this month after failing to raise new investment.
According to the TechCrunch, Buttercoin said in a note on its website that they will be turning off their service on April 10 and asked its users to move their bitcoins to another service and remove their dollar balances by April 10.
Buttercoin also said that any unclaimed funds will be returned to the accounts that they came from.
Buttercoin founded in 2013 with the aim of tackling the global remittance space, aka money that migrant workers send to their relatives back home.
The World Bank estimates that some USD 515 billion will be sent in developing countries this year and Buttercoin's wanted to open local exchanges in a range of countries to facilitate cheaper cross-border currency transfer.
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