Coinsource, a US-based bitcoin ATM network, today announced that it has doubled its machine deployment in less than 60 days through the rollout of a new Platform as a Service (PaaS) offering. Coinsource has now expanded beyond renting spaces at brick and mortar stores and extends licensed, turnkey machines with accompanying white-glove PaaS features.
Companies can purchase licensed Coinsource kiosks and immediately gain access to a customizable selection of offerings; including Coinsource’s compliance department, licensing regime, customer support, and nationwide armored car services which offer service to all 50 states.
“It took us 4 years to deploy 300 machines, but it took less than two months to reach 600. We chalk up our sudden growth to the new white-glove PaaS service we now offer with our licensed machines. Traditional ATM networks have been looking for ways to diversify their proven ATM model into the BTM market, but have, up until now, been put off by significant hurdles. It may sound easy at face value to deploy your own BTM, but at a granular level, it’s actually very difficult to deal with compliance, licensing regimes, support, cash logistics, etc. Our new offering solves this: you buy a licensed Coinsource machine, and we will take care of the rest. The massive market demand we’re seeing for this new service indicates that we’ve tapped into something big.”
– Coinsource CEO, Sheffield Clark
At the public launch of this new service, Coinsource has already onboarded 11 partners, including National Cash Systems, an established leader in the ATM industry that is kickstarting their entrance into bitcoin by opting into the KYC services offered under the umbrella of Coinsource’s PaaS.
“With the ever-changing landscape of the ATM and financial industry, it’s imperative for us to keep up with technology and be able to offer our customers the latest solutions. As bitcoin and cryptocurrency have increasingly become mainstream and proved their staying power, bitcoin ATMs have become the obvious next step for our future. Because of the endless regulatory hurdles and expenses traditionally associated with bitcoin ATMs, it has been extremely difficult for ISO’s to enter the BTM space. Coinsource has created a model that integrates seamlessly with ISO’s and ATM operators, providing a fully compliant SaaS model which allows us to overcome regulatory roadblocks. We have no doubt Bitcoin kiosks will continue to grow and become one of our most popular solutions nationwide.”
– National Cash Systems’ Vice President of Operations, Jessica Jay
Coinsource is fully KYC/AML compliant, and was the first crypto ATM operator to earn New York State’s highly coveted Virtual Currency License. The company offers white-glove service to its ATM owners and has customer service representatives available every weekday.