Lamassu Launches New Cryptocurrency ATMs
All of the machines offer support for BTC, BCH, LTC, ETH, DASH, and ZEC, and allow ATM operators the ability to choose which cryptocurrencies to enable through the machines’ back-end. Additionally, operators are able to adjust fees, commissions, and compliance obligations through the back-end.
Lamassu Operators Required to Host Own Wallets and Servers
The Sintra and Sintra Forte are both two-way machines, whilst the Douro II only facilitates the purchasing of cryptocurrency. The Sintra Forte comes with an internal vault, as is approximately 20% larger than the Sintra. Operators of Lamassu crypto ATMs are required to host their own servers and wallets, as there is no central Lamassu server. Lamassu’s software is open source.
Lamassu first demonstrated their cryptocurrency ATMs at a conference in San Jose during 2013 – with the company then comprising two brothers who owned a guitar store together, Zach & Josh Harvey. Soon thereafter the company began production in a small facility, before expanding to deploy approximately 400 machines worldwide and process between 20 and 30 transactions daily by mid-2017. As of this writing, Coinatmradar estimates that Lamassu cryptocurrency ATMs represent 11.17% of the number of machines installed worldwide, with 427 active units.
The company has consistently sought to maintain separation from the operators and users of its ATMs, with the Harvey brothers previously stating: “it was so important to us to separate from the operators as much as possible. Basically, there is no info about the machines on the field that is available to us apart from the info operators are willing to tell us […] we choose to have a decentralized system. We do not run any servers that are in charge of sending the money or seeing any of the user data. So we cannot have any of the money because we do not have access to it.”