Remittances – sending cash overseas – has always been bitcoin‘s killer app. Now the guys at Robocoin have made it more killer. Their new product, called Romit, is basically a way to send cash through a Robocoin ATM to another ATM or merchant account at fees far lower than other remittance providers.
Robocoin runs 20 ATMs around the world including systems in Hong Kong, Romania, Italy, and the United States (including Vegas). To send money you simply slide it into the ATM local to you and enter the recipient’s phone number. The recipient can then pick it up at a nearby ATM or merchant.
“Romit enables unprecedented low-cost global money transfers by leveraging Bitcoin’s underlying blockchain technology, while also removing bitcoin from the customer experience,” said CEO Jordan Kelley.
“Romit lets Robocoin’s operators scale their businesses – not by buying more kiosks, but by onboarding partner stores…
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