Web3 payment protocol Purple Pay announces termination of operation.

According to a report from BlockBeats on December 7th, Web3 payment protocol Purple Pay has announced that it will be ceasing operations. Purple Pay is a compliant payment protocol that supports blockchain cross-border transactions, primarily by supporting decentralized identities with ZK to meet global anti-money laundering KYC regulations. Saumya Saxena, co-founder of Purple Pay, revealed that due to the fact that most projects do not prioritize compliant transactions at this stage, its operating environment is full of challenges. Purple Pay will open source its platform so that anyone can continue to use it and build on top of it.