Peer-to-peer crypto exchange for the Monero cryptocurrency LocalMonero winding down the platform after nearly seven years of operation.
Without providing specifics, LocalMonero cited “internal and external factors” as the reason behind the decision.
With LocalMonero, users could buy and sell Monero directly with other users, both in person and online.
LocalMonero stated that the shutdown process will be completed in six months. New signups have already been disabled and trading on the platform will be unavailable from May 14 while the website will be discontinued in November.
LocalMonero expects the Monero ecosystem to continue expanding despite its own wind-down as launches of new Monero-focused DEXs and further privacy updates such as full-chain membership proofs as positive developments are bound.
LocalMonero is winding down a year after the P2P Bitcoin trading service LocalBitcoins announced its closure after a decade in operation.
