SurBitcoin, Venezuela's Largest Bitcoin Exchange, to Resume Operations After Bank Account Closure


SurBitcoin, one of Venezuela’s most popular digital currency exchanges, said today it will be resuming services soon.

The Venezuelan startup was forced to halt operations at the start of this month due to complications with their bank.

Banesco Banco Universal - the financial institution processing fiat currency transactions for SurBitcoin’s clients - unexpectedly decided to stop providing banking services on February 3rd, telling SurBitcoin their bank account was to be closed that same day.

In today’s statement to clients, SurBitcoin explained why it took so long to find a new financial partner:
"Due to bureaucratic procedures on the part of the bank, the process has taken longer than expected."
Based on ongoing negotiations between SurBitcoin management and the new bank, normal operations are expected to resume sometime next week.

Although SurBitcoin has not revealed any specifics on the new partnership, the exchange said that pending withdrawal requests made up to the Banesco shutdown are still being processed manually by BBVA Provincial Bank, which has imposed daily limits on outgoing transfers.

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