Tokenlon to cease cross-chain gateway services

In 2019, Tokenlon introduced the BTC cross-chain gateway services, unveiling imBTC — a cross-chain solution empowering users to seamlessly move BTC tokens from the Bitcoin network to Ethereum at a 1:1 ratio. At the end of August 2023, we ceased providing services to retail customers to initiate customer identification and verification measures, enhance service compliance and focus on corporate/institutional customers.

In 2024, due to business considerations and evolving compliance risks, the Bitcoin cross-chain gateway business will officially cease operations on January 31, 2024, at 12:00 PM (UTC+8), the mint service is closed now and the relevant pages and dashboards will be taken offline accordingly.

Customers who minted coins through the Tokenlon Bitcoin cross-chain gateway are advised to redeem their Bitcoin assets as soon as possible, as the redemption channel will close on March 31, 2024, at 23:59 (UTC+8). Please follow the instructions to do so by the specified date to avoid the loss of your digital assets.

Notes

• The minimum redemption amount for imBTC is 0.01. Users who do not meet the minimum redemption requirement are advised to use the Tokenlon swap function to convert imBTC into other tokens such as WBTC or ETH.
• The transaction fees for imBTC-related trading pairs have been reduced, and the fee discounts will remain in effect until March 31, 2024, at 23:59 (UTC+8).

If you have any queries or issues, please do not hesitate to contact us at support@tokenlon.im. We apologise for the inconvenience caused and deeply appreciate your steadfast support.