Bitcoin ATM Manufacturer, Lamassu Moves to Switzerland’s Crypto Valley

Jan 4, 2019 at 21:30 Update Date :Jan 4, 2019 at 21:30 UTC

The manufacturer of Bitcoin ATM has moved to the crypto valley-Switzerland due to a lot of difficulties in other countries. The new place is welcoming the Bitcoin ATM manufacturer with its user-friendly crypto regulations.

The reports say that Bitcoin ATM producer Lamassu which was established in 2013 has moved to the Swiss canton of Lucerne where the rules are well defined and regulators are pro-innovation.

Bitcoin ATM Lamassu in Crypto Valley

The governments across the globe are moving towards stricter cryptocurrency regulations. However, on the other hand, Switzerland is a country that welcomes the new innovation and continuously adopting new user-friendly rules and regulations.

Due to this environment, a lot of companies have already moved to the crypto valley and Bitcoin ATM producer Lamassu plan was to do the same. In a blog post published on an answering writing platform Medium, the Bitcoin ATM manufacturer explained that after years of troubles – both with the regulations and searching for the right country (to established their headquarter), they have found the right place in the canton of Lucerne.

In their blog post on Medium, they wrote:

“For years we’ve been searching for a home to call our own and we’ve finally found it in the majestic Swiss canton of Lucerne. Crypto Valley is alive and kicking and we’re excited to be in an area so rich in crypto development and blockchain events.’’

Lamassu is the oldest Bitcoin ATM manufacturer in the world. It has over 433 Bitcoin ATM all over the world – seven in Switzerland. The firm has decided to expand their business with more ATMs and decided that Switzerland can be the best place from where they can start so.

The CEO of Lamassu, in their move to switch to Switzerland, said:

“It was difficult for our company to find a bank that would help us accommodate throughout 2018. However, the firm now has such bank account that it would have hoped for in Portugal.”

Lamassu further explained why they have trusted Switzerland over any other country. According to the firm, Swiss government welcomes cryptocurrency innovations, and the firm is taking comfort in the optimism of Switzerland towards the digital currency.

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