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19 February 2020

Former Venezuelan Gold Mining Company Wants to Centralize Bitcoin ATM Infrastructure - CoinDesk

Former Venezuelan Gold Mining Company Wants to Centralize Bitcoin ATM Infrastructure - CoinDesk


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A one-time Venezuelan gold mining outfit-turned multinational crypto startup, First Bitcoin registered with the Securities and Exchange Commission (SEC) last week – an initial step, said CEO Greg Rubin, in providing fragmented bitcoin ATMs a new network.

“We want to create a consortium of bitcoin ATM operators and put them on the global ATM network,” Rubin said.

Instead, First Bitcoin will use the patent to make inroads among operators.

Rubin said the relationship will be mutually beneficial: First Bitcoin will charge a flat transaction fee comparable to ATM fees, and operators will meet local compliance and regulatory burdens via its network.

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