Bitcoin ATM Selling Gold and Silver Goes Live in Singapore
A Singapore company has created a way for customers to buy gold and silver directly from a Lamassu bitcoin ATM.
Quantified Assets, a bitcoin-to-precious metals brokerage, has a prototype machine set up in Singapore’s HackerspaceSG, which it is using as a showcase to offer its front-end interface to all 118Lamassu operators worldwide.
Founder and CEO Ville Oehman told CoinDesk the first request from another Lamassu operator came within ten minutes of announcing the service.
The company has added the functionality by building its own fork of Lamassu’s software, which is open source. The ATM manufacturer has given its blessing to the extensions.
Precious metal purchasing is just one of many potential enhancements to the services bitcoin machines like Lamassu’s offer, Oehman said.
“Bitcoin vending machines are a great interface to the bitcoin ecosystem, and in the future they will provide a lot more functionalities … like sending money abroad.”
This post was published at Coin Desk on February 13, 2015.