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X-Changers bowing out of eCurrency Arena Cites decreased revenue and profit as primary reason The eCurrency arena has taken yet another hit. Just under three weeks since the closure of EvoCash, X-changers has announced that they will be closing up operations as well. X-Changers.com has been an active exchanger since the launch of the business in late 2000. Over the last five years the exchanger has been a name associated with EvoCash. That is because X-Changers was the main exchanger for the currency. On October 15, 2004, X-Changers made an announced that sent the eCurrency arena reeling as they announced that their business of exchanging funds to eCurrency would no longer involve EvoCash. That is until EvoCash took the effort to make refunds. On October 19, 2004, EvoCash announced they were closing up shop, due to the lack of business and obviously the concerns over the frozen funds belonging to FLO investors. X-Changers had been EvoCash's main exchanger and with the earlier closing of CashChange, it left EvoCash alone, with basically no where to go. X-Changers will be accepting business up until November 5, 2004. Any incoming exchanges after November 5 will be returned as quickly and timely as possible. The main reason for the closure is stated as being related to decreased revenue and profit. Of course many will now fuel previous rumors with new material. It is likely without EvoCash as the primary provider, it was too difficult to maintain business as before. The high yield arena has gone through a period that has caused concern. The closing of a provider, and the closure of several exchangers has made for difficult times. What does the future hold? Is something no one can answer. |
