LONDON, 18 December – Germany’s leading Bitcoin ATM provider, spot9, will leverage top RegTech Coinfirm’s AML platform for cryptocurrencies and blockchain to increase transparency and strengthen compliance in the crypto industry.
spot9’s users can find the nearest ATM to conveniently buy Bitcoin and other cryptocurrencies with cash – no prior knowledge needed. spot9 enables customers to simply choose a cryptocurrency, enter their cell phone number for 2FA purchase verifications and scan the QR code of their public wallet.
This simplicity makes the company’s method of purchasing Bitcoin fast, easy and secure for users and opens up the world of blockchain to far more retail users as it democratizes knowledge of blockchain and is a bridge between the segregated fiat and crypto economies. With Coinfirm, that bridge will have regulatory compliance hardwired into it.
“We are proud to be able to collaborate with an extraordinarily pioneering and innovative fintech such as spot9. Our digital society’s infrastructure must have solid hardware and Coinfirm looks forward to creating a safer blockchain economy with spot9’s Cryptocurrency ATMs. Being able to exchange cash for digital assets is a significant step towards mass adoption.” – Pawel Kuskowski, CEO and co-founder of Coinfirm
As institutional and retail demand for bitcoin surges, Bitcoin ATM providers are poised to be one of the largest beneficiaries of the revitalized digital currency market. spot9’s Bitcoin ATMs will be the first of those regulated in Germany – laying the groundwork for the future mass adoption of cryptocurrency and blockchain technology in the country. To ensure a high level of compliance Coinfirm will be providing crucial AML and KYC analytics data.
“I am proud of my team and my partners. With the launch of our first ATM this month, we start our planned rollout throughout Germany. Spot9’s vision is to enable everyone, even people without extensive prior knowledge, to use our Bitcoin ATMs. As a result, it is very important for us to understand the customers’ behavior before we open any further ATM locations.” – Johannes Gorski, CEO of spot9 GmbH
Bitcoin ATMs bring the blockchain world closer to mainstream acceptance but it is important to the integrity of the ecosystem that stakeholders can trade, save and invest in a safe environment. Coinfirm’s AML platform consists of 270+ risk indicators able to catch nefarious actors with red flags for anything from Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CTF) to combatting fraud and dark net trading. Alongside this array of indicators, the firm boasts the largest coverage of cryptocurrencies being monitored in the blockchain space, which makes Coinfirm ideally positioned to help a first mover.
In addition to Bitcoin ATMs, spot9 is working on a unique and innovative mobile banking application. The firm is developing products and services that will make daily banking, payments and the handling of digital currencies simpler to use.
As Coinfirm continues to strengthen the compliance of numerous stakeholders in the DACH region this collaboration is particularly noteworthy as it will be Coinfirm’s first regulatory technology solution provided to Bitcoin ATMs.
spot9 is Germany’s leading Bitcoin ATM operator which enables users to have fast, easy and secure access to Bitcoin and other cryptocurrencies. They put all their knowledge and nerdiness to work to develop products that allow public access to Bitcoin legally and securely. In 2017, millions of Germans missed the opportunity of a lifetime to benefit from Bitcoin as an investment. They are determined to change this. For more information please visit: https://www.spot9.com/en/
Coinfirm is a global leader in AML and regulatory technology for blockchain and cryptocurrencies. It offers the industry’s largest blockchain coverage, supporting over 1,500 cryptocurrencies and protocols including Bitcoin, Ethereum, Hyperledger, and many more. Coinfirm’s solutions are used by market leaders globally, ranging from crypto exchanges such as Binance, and protocols like XRP, to major financial institutions like PKO BP. The company’s services also include Reclaim Crypto, as well as Trudatum, a standalone regtech platform that allows any file to be registered, signed, and verified with 100% accuracy. For more information please visit: https://www.coinfirm.com/