ATM Maker Robocoin Shuts Down Bitcoin Services

Remittance service Romit, which started out as bitcoin ATM developer Robocoin, has said it is shutting down its bitcoin services.

The company told customers today that it is suspending its Bitcoin-related services and encouraged customers to begin withdrawing their funds. Romit, which provides wallet services for global remittance payments, plans to officially end its Bitcoin services on February 15, according to a text message sent to users.

When asked for comment on the matter, Romit provided CoinDesk with an email stating:

“We are discontinuing Bitcoin services from our products. Please log in to your wallet and withdraw your Bitcoin immediately.”

The email said withdrawals "may take some time" because the site has been experiencing increased traffic.

The decision to suspend the service comes a few months after Romit switched its business model from hardware-based bitcoin ATMs to software and remittances. Romit’s website shows that the company is moving towards traditional payments, providing card storage services for mobile payment users.

As for Robocoin, the company was one of the first to enter the bitcoin ATM space, but its stance is slowly changing amid criticism from operators over hardware and software issues and allegations of intentionally withholding refunds. The controversy ultimately prompted some Robocoin operators to switch to other hardware and software providers.

Romit did not immediately respond to requests for comment on the motivation behind the shutdown or the timing of the move.