Today, we’re thrilled to announce that Parallax is joining forces with Phantom, the world’s leading crypto wallet.
We started Parallax to solve a big problem: broken, slow and expensive global payments for freelancers and remote workers in emerging markets. We believed stablecoins offered a better way, one that was faster, fairer, and more accessible to the people who needed it most.
That mission led us to build a platform using stablecoins and self-custodial wallets that empowered thousands of users to move money more freely across borders. And now, we’re excited to take that mission even further.
Phantom is used by millions of people globally and is at the forefront of shaping the next generation of crypto-based financial services. By combining forces, we’re bringing the heart of Parallax into a platform with the scale, resources, and vision to build the future of borderless finance, at a larger scale and faster than ever before.
As part of this exciting new chapter, we’re winding down Parallax as a standalone product by September 18, 2025. After this date, deposits, withdrawals, and account access will come to a close, so we can fully focus our energy on what’s ahead. FAQs & more details below.
With heartfelt gratitude,
The Parallax Team
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Your funds are safe and you have time to withdraw until September 18, 2025.
Please note: Due to potentially high withdrawal volumes, your withdrawal may take longer than usual to process. Rest assured that all eligible withdrawals will be fulfilled.
For Philippine users, we suggest you withdraw a maximum of $3500 per transaction to receive your funds faster and prevent any transaction delays.
Important: Final conversion rates (for fiat or crypto) will be based on the time your withdrawal is processed, not when it’s requested.
We’ve created a migration guide with our recommended tools in each country. Read it here.
Make sure to inform anyone who was sending payments to your Parallax bank details — like clients, employers, or platforms — that these details will no longer work after September 18, 2025, 13:59 UTC.
Please ensure anyone who sends funds to your Parallax account is aware that those payment details will stop working after September 18, 2025.
We’ve put together a detailed FAQ section below, covering everything — including what happens to your funds, data, transaction history, and more.
Reach out here with any questions and we’ll aim to respond within 48 business hours: https://parallaxlabshelp.zendesk.com/hc/en-us/requests/new
If you’re a business user or run payroll through Parallax, we’re here to support you. Feel free to message in your respective Slack channels to access the Parallax team.
Parallax is stepping into an exciting new chapter as we join forces with Phantom, the world’s leading crypto wallet.
As part of this transition, the Parallax app and standalone wallet will officially wind down on September 18, 2025, 13:59 UTC.
We’re incredibly proud of what we built together, and even more excited about what’s next.
Yes. Your funds are secure and accessible for withdrawal until September 18, 2025, 13:59 UTC. We recommend withdrawing well before the deadline.
No. All deposit and withdrawal functionality will end on September 18, 2025, 13:59 UTC. Please inform your clients or employers to switch to an alternative payout method as soon as possible.
No. All account creation functionality will end on September 18, 2025, 13:59 UTC. Please inform your clients or employers to switch to an alternative payout method as soon as possible.
Funds arriving on and after September 18, 2025, 13:59 UTC will not be accepted and processed. This means that funds will be returned to the sender. Please note that fund bounce backs are not instant and could take a few days to be returned to the sender.
You will lose access to your Parallax account on September 18, 2025, 13:59 UTC. After this date, you will no longer be able to log in, view your transaction history, or access any funds remaining in your account. You must take the action described above before this date and time.
After September 18, 2025, 13:59 UTC, you will no longer be able to access your Parallax account or withdraw your funds through the app. While we may offer limited support for late withdrawals on a case-by-case basis, we strongly recommend withdrawing your full balance well before the deadline to avoid delays, complications, or potential loss of access.
While subject to approval, we can raise your withdrawal limit to match your account balance. Applications are open until August 18, 2025.
Yes. You can export your records directly from your dashboard until September 18, 2025, 13:59 UTC. If you need help, reach out here: https://parallaxlabshelp.zendesk.com/hc/en-us/requests/new
Parallax retains user data securely in accordance with legal requirements and our Terms of Service.
The Parallax Referral Program will officially wind down today, July 18, 2025.
From this date onwards, referral rewards will no longer be issued — even if someone signs up using your referral link. Beginning today, we won’t be able to offer rewards or provide long-term service to any new users. This includes referred users who have signed up but not yet reached the reward threshold.
We’ve created a migration guide by country to help you switch to a trusted platform based on your location. Feel free to read it here.
We expect a higher volume of withdrawal requests as we approach the wind-down date. We’re committed to processing withdrawals as quickly as possible, but please be aware that withdrawals may take longer than usual.
Rest assured: your funds are safe and your withdrawal will be completed as long as it's made by September 18, 2025, 13:59 UTC.
We recommend initiating your withdrawals as early as possible to avoid any last-minute delays.
During the wind down period, all currency conversions and transaction pricing will continue to follow our standard rates at the time your transaction is processed.
Please note: as always, conversion rates may fluctuate, and Parallax is not responsible for any changes in market rates between the time you initiate a transaction and when it is completed.
We encourage users to plan accordingly if you are sensitive to timing and conversion rates.
Business users and those managing payroll through Parallax should begin transitioning to alternative solutions immediately. Please reach out to us through your dedicated Slack channels if you need any help.
No — as part of the wind-down process, we are no longer making changes to account information. This includes requests to update your email address, legal name, or other personal details.
If you’re having trouble accessing your account, please create a support ticket and we’ll do our best to help.
You can either send your existing balance to your Phantom wallet or transfer your Parallax wallet over to Phantom. Please create a ticket so we can enable this feature for you and guide you through the process: https://parallaxlabshelp.zendesk.com/hc/en-us/requests/new
Yes, you’ll be able to transfer your wallet’s keys to Phantom and use it on Phantom. Please create a ticket so we can enable this feature for you and guide you through the process: https://parallaxlabshelp.zendesk.com/hc/en-us/requests/new
