Ukrainian fintech startup Weld Money has announced it will cease operations. Customers are advised to withdraw funds by June 30.
$WELD Money are shutting down due to military & regulatory limits in Ukraine.
Please withdraw funds by June 30 from all wallets & cards.
Support — via Telegram: @alexeybobok#WELD #WeldMoney #crypto #shutdown #Ukraine pic.twitter.com/vhHTkS4a0Y— WeldMoney (@MoneyWeld) May 27, 2025
“Be sure to withdraw all funds from your cards and wallets by June 30. Access may be restricted after this date,” the team stated.
The decision to halt operations was attributed to military and regulatory constraints in Ukraine.
Local media noted that users had been lodging complaints about the service on the Telegram channel as early as March.
Weld Money was founded in 2020 by Alexey Merecki, Alexey Bobok, and Irina Lorenz. Initially, the project focused on traditional finance and managing accounts from various banks within a single mobile application.
In 2022, in collaboration with Unex Bank, the startup launched Ukraine’s first cryptocurrency payment card based on the Mastercard system. It operated by connecting a wallet on the WhiteBIT and HTX (formerly Huobi) exchanges and supported transactions in stablecoins USDT, USDC, BUSD, and DAI.
ForkLog has requested comments from Alexey Bobok.
Back in late January 2025, the Ukrainian bitcoin exchange Kuna announced its intention to cease operations in all countries. On April 30, the platform completely halted operations and shut down its servers.
As of May 20, the cryptocurrency wallet Trustee Plus stopped registering Ukrainian residents and shifted its focus to the EU.
The reasons behind the exodus of cryptocurrency companies from Ukraine were discussed in the “Podcast Society” with Allbridge.io co-founder Andrey Velikiy.
