Cottonwood receives license to operate with ATMs

The company from now on can exchange bitcoin for cash, and vice versa according to the CEO

The government agency of the New York Department of Financial Services (NYDFS) announced that it granted the necessary licenses to Cottonwood Vending to operate with digital currencies.

The bitcoin ATM operator (BATM) will now be able to dispense cash through cryptocurrencies as an exchange method.

Cottonwood CEO Aniello Zampella said the license represents a “monumental personal achievement of mine, and also recognizes all the hard and tireless work of my support and compliance staff over the years to maintain a safe, reliable and secure financial service, 24 hours a day, 7 days a week “.

Zampella also indicated that ATMs will allow the acquisition of bitcoin through cash.

“We are delighted to continue offering the opportunity to exchange bitcoins in our many places to all those who register with us”, he said.

The virtual currency or BitLicense licenses are issued by the NYDFS under the regulations designed for companies.

K. Tovar

Source: Coincrispy

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