Coinsource, America’s leading provider of Bitcoin ATMs (BTMs), has announced its expansion into Alaska, becoming the first and only licensed BTM provider in the state. Coinsource’s acquisition of an Alaska Money Transmitter License #012206 from the Alaska Division of Banking and Securities will see them roll out their BTMs across the state with immediate effect.
Prior to Coinsource’s expansion, there were five BTM providers operational in Alaska. However, none of these other providers have been recipients of the Alaska Money Transmitter License. The purpose of this license is to ensure that money transmitters engage in ethical business practices. Without obtaining this license, BTM providers may put their users at risk of financial loss.
Sheffield Clark, Founder and CEO of Coinsource, said, “Our expansion into Alaska marks an incredible milestone and the next frontier in our mission to bring BTMs to every corner of the world. Coinsource is the largest fully AML/KYC compatible provider in America and, more importantly, holds significantly more licenses than any other BTM provider. As the only licensed provider in Alaska, our customers will know that we have minimized their financial risk. Bitcoin’s impact and reach is growing, and with Coinsource it can grow securely.”
Coinsource provides Bitcoin ATM machines within a 15 minute drive of 75% of the U.S. population. In 2020, Coinsource grew by over 300% in the number of BTMs it had in place across the country, while the industry as a whole experienced growth of 177% in the same period.
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Coinsource is fully KYC/AML compliant, and was the first BTM operator to earn New York State’s highly coveted Virtual Currency license. In total, Coinsource holds 19 state licenses and is committed to licensing and compliance in every state it operates in. Coinsource is in a period of rapid growth, with over 1,400 kiosks across 44 states and Washington, D.C. The company offers white-glove service to its ATM owners and has customer service representatives available every weekday across the U.S.
Clark concluded, “In 2021, Coinsource will continue to grow, with plans for exciting domestic and international expansion, in addition to new service offerings on the horizon. Cryptocurrency is becoming more and more prevalent in everyday life and BTMs play an important role in allowing as many people as possible to become involved. Our aim will be to ensure that everyone has access to digital assets from a secure and licensed source.”