Bitcoin ATMs are still in short supply in Germany. Now a new player from Berlin has set up its first crypto machine in Schweinfurt.
Cpi Crypto Payment International GmbH set up a Bitcoin machine in the Franconian town of Schweinfurt on October 17th. The “Cryptomat” is the company’s first ATM to be set up in Germany. Registration via the app ensures compliance with the applicable anti-money laundering requirements.
The aim is to make trading in crypto currencies securely and easily available to everyone by establishing and expanding a nationwide cryptomat network. We want to offer the best service so that crypto currencies can be used in everyday life and can establish themselves as a means of payment,
CEO Frank-Peter Evertz is quoted in a press release that BTC-ECHO has received.
With this Bitcoin ATM it is possible to deposit cash in order to receive coins of a crypto currency. In its app, cpi credits this to the users of the machine. The project is legally secured by the German CM Equity in Munich.
(Still) rare: Bitcoin ATMs in Germany
In the case of Bitcoin machines, the German Federal Financial Supervisory Authority is responsible for issuing licenses. The latter deals strictly with ATMs that violate the rules for combating money laundering: It was only in March that it made the decision at shitcoins.club that the provider must shut down its 24 Bitcoin machines. One reason why Bitcoin ATMs are few and far between in this country. Perhaps that could soon change with the advance of CPI.