Bitcoin ATM Operators Remove Machines In Singapore

The Straits Times reports that despite much fanfare at the arrival of Bitcoin ATMs in Singapore during 2014, at least five have since been converted to non-bitcoin accepting kiosks or removed entirely.

Tembusa Systems, formerly known as Tembusa Terminals, removed four of their own ATMs from Singapore late last year after launching them in February of 2014. Tembusa, having raised US $236,600 in March of last year to pay for the production of the Bitcoin ATMs, have now exited from Bitcoin entirely. That change comes despite claims by COO Jarrod Luo that Tembusa's ATMs were seeing good sales figures:

"In fact our ATMs were seeing decent sales figures on average right until the recall. However, as we worked more with Bitcoin itself as a currency and a commodity of trade, we realized that Bitcoin had many weaknesses that stood in the way of it gaining widespread acceptance and stability."

Other Bitcoin ATMs known to be active in Singapore, at least at some point in time, include Bitcoin Exchange's Lamassu, Bitcoiniacs' Robocoin and Numoni.

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