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Romit To Discontinue Bitcoin Services on 15 February
According to latest reports, Romit, a wallet service that aims at global remittance payments, has said that it will discontinue its bitcoin services. The company, which started as bitcoin ATM developer Robocoin, has sent messages to its users that it plans to formally end its bitcoin services on 15th of next month, CoinDesk reported.
The remittance service is also encouraging its customers to start withdrawing their funds. In an email, Romit told CoinDesk:
"We are discontinuing bitcoin services from our product offering. Please withdraw your bitcoin immediately by logging into your wallet."
The company also said that withdrawals "may take some time" due to increased website traffic.
Robocoin was one of the first entrants in the bitcoin ATM space. However, with rising criticisms from operators about hardware and software issues along with accusations that the company purposefully withheld refunds, its position in the sector diluted gradually. This in turn caused some Robocoin operators to shift to other hardware and software providers.
CoinDesk reported that the suspension of bitcoin services comes months after Romit moved away from a bitcoin ATM hardware business model to software and remittances. Its website suggests that it is now shifting towards traditional payments, offering card storage services for mobile payments users.