Some interesting news was received from CoinOutlet, a startup company wishing to manufacture and operate AML / KYC cryptocurrency ATMs.
CoinOutlet has announced a partnership with Locant Services - a company which holds the rights to around 100,000 prime locations across the United States. Bitcoin ATMs have become widely popular throughout the year, yet this is the first attempt to create the largest Bitcoin ATM network controlled by one company.
The reason why a partnership was established with Locant Services is quite simple - the ability to set up shop at these pre-established locations across the United States, which provide the ideal setting for the launch of a vast ATM network.
“The partnership with Locant allows us to drive Bitcoin and digital currency adoption through a systematic roll out of ATMs across key cities from coast to coast, said CEO Eric Grill in a statement. “Our partnership encompasses the perfect collaboration of resources, technology, and prime locations. I want to thank Charles Allen, the CEO of Bitcoin Shop for his advice, guidance and support in consummating this partnership.”
The President of Locant Services also commented on the move:
“Based on their best-in-class hardware and regulatory acumen, we look forward to assisting with the deployment of Bitcoin Kiosk machines by leveraging our portfolio of approximately 100,000 prime locations nationwide.”
Currently, CoinOutlet kiosks will be located in Los Angeles, Chicago, Dallas, Boston, San Diego, and Berkeley. This is how the ATM network will begin as it cannot be placed in all states simultaneously. The good news however is that the first 30 kiosks are expected to be installed in the United States by the end of this year.
The CEO of Bitcoin Shop Inc., Charles Allen, added:
”I’m thrilled I could provide strategic guidance and assistance to Coin Outlet with this paramount transaction, and believe the Locant and Coin Outlet partnership should allow Coin Outlet Kiosks to be installed at popular public locations – creating an extensive Bitcoin Kiosk network.”
Whether or not CoinOutlet and Locant Services are able to succeed or not remains to be seen. But the stage is now set for the company to roll out an extensive Bitcoin ATM network across the country, which could potentially boost Bitcoin adoption and grant people easier access to the world of cryptocurrency.