Bitcoin ATM Maker Robocoin Hints at Software Shift

Robocoin CEO Jordan Kelley has addressed rumors about the company's future, suggesting the company may be shifting away from hardware.

AccessTimeIconJan 30, 2015 at 10:35 p.m. UTC
Updated Sep 11, 2021 at 11:29 a.m. UTC
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Robocoin CEO Jordan Kelley has addressed rumors the company may be pivoting, suggesting it may soon expand the means by which its allows consumers to buy and sell bitcoin.

The rumors, which first surfaced on 29th January, implied the company would be moving away from its bitcoin ATM hardware due to the technical difficulties managing its network, and that Robocoin's future was perhaps in jeopardy due to these issues.

Speaking to CoinDesk, Kelley didn’t deny the rumors so much as seek to rephrase the question, suggesting that Robocoin has always been broadly focused on helping consumers acquire bitcoin.

Kelley said:

“Our core business has been bringing bitcoin to the world. That means that we allow customers to easily buy and sell bitcoin via ATMs and kiosks. Our business hasn’t changed, it isn’t changing.”

Rather than framing the company as failing, Kelley suggested the company is on the verge of upcoming announcements, stating also his belief that it has largely addressed many of the problems its operators previously reported.

What was perhaps most notable about the conversation was his choice of words, referring to ATM operators as owners of “Robocoin-enabled devices” and emphasizing the strength of the company’s software solutions.

When asked if this meant Kelley would be shifting the company strategy toward selling software solutions to more traditional ATM manufacturers, here again Kelley answered cryptically, promising more details at a later date.

“I’m not saying the word just yet, but you might be on to something,” he said.

Kelly suggested more announcements will be forthcoming in Q1 of 2015.


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