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MOBILE & TELECOMMUNICATIONS | Mobile Software & Services / Payments
37coins.com

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Stage

Dead | Dead

About 37Coins

37coins is a bitcoin wallet for the low-teched and underbanked. It makes financial transactions as simple as sending a text. The SMS wallet allows the client to send and receive Bitcoin in remote areas without internet access. Market functionality in the wallet allows to create local bitcoin markets. A gateway operator becomes a local agent with several revenue streams. The agent earns a fee for every transaction, gets notified about new customers requiring exchange and might be paid bounties for continuous good service.

37Coins Headquarter Location

California,

United States

Latest 37Coins News

Bitcoin Remittance Startup 37coins Announces Closure

Aug 11, 2015

Stan Higgins |Published on August 11, 2015 at 18:22 BST News Bitcoin remittance startup 37coins is closing its doors. In a new blog post , the company said it was shutting down its service and its SMS-based wallet immediately, however, users have until 30th December to withdraw their balances. More information about the withdrawal process can be found here . 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: "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. Lastly, our initial objective was not possible to achieve with the amount of capital raised. " 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. Images via 37coins, Wikimedia

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Expert Collections containing 37Coins

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

37Coins is included in 2 Expert Collections, including Blockchain.

B

Blockchain

3,831 items

Companies and startups in this collection leverage blockchain technology for crypto investing and trading, decentralized finance (DeFi), NFTs, and more.

F

Fintech

7,256 items

US-based companies

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