Bitcoin remittance startup 37coins closes its doors
12 August 2015 | 3859 views | 0
Today we are shutting down 37coins and SMS Wallet.
Please request a withdrawal of your funds that were deposited into SMS Wallet by December 30, 2015. 37coins.com will now redirect to smswallet.com
More than a year and a half ago we launched 37coins’ SMS Wallet to the world. We received attention and gained traction for two reasons: First, bitcoin advocates desire a way to easily send bitcoins to new users. Secondly, 37coins and bitcoin had the potential to bring financial products to the 2.5 billion adults that are unbanked. With both of these goals we were proud to have a positive social impact on the world.
The decision to cease operations and to shut down our service was difficult. Despite the best of intentions, we were unable to deliver a quality product that showed product-market fit. We also found that SMS delivery between different carriers in countries outside the USA is unreliable.
At the time of our launch, few bitcoin services actively catered to the underbanked and unbanked. Fortunately that is no longer the case. There are now many amazing bitcoin companies like BitGive Foundation, coins.ph