Bitcoin Remittance Startup 37coins Announces Closure
Bitcoin remittance startup 37coins is closing its doors, with users having until 30th December to withdraw their balances.
Bitcoin remittance startup 37coins is closing its doors.
The closure marks the end of a process that saw the startup take part in Plug and Play's bitcoin startup group. 37coins aimed to use low-cost cell phone technology as a means to enable cheap transactions, but according to the team, development ran into headwinds that ultimately proved insurmountable.
The post explained:
37coins also cited the growing focus of bitcoin projects that target the underbanked, and concluded by thanking those who had supported the project.
"It has been a privilege getting to know all the bitcoin supporters around the world and to work together toward a fair and balanced financial system," the team wrote. "Thank you for being such passionate supporters."
37coins did not immediately respond to a request for comment.