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News of the Competition (05/05/2014)
  • LAS VEGAS, Nev. (5/5/14)--Robocoin, a Bitcoin ATM provider, has launched an online banking platform it calls Robocoin Bank and, sticking to that theme, is touting its ATMs as bank branches (American Banker May 1). Robocoin Bank lets users monitor their transactions as they use the platform to send and receive bitcoins. Robocoin is now using the terms "depositing" and "withdrawing," rather than buying and selling. Robocoin ATMs also allow users to withdraw cash--while Bitcoin ATMs only allow them to deposit cash. The article notes that bitcoin companies also are moving in the direction of adopting security features that traditional payments providers often use--like multi-signature transaction authentication. Robocoin ATMs support three-factor authentication using a phone number and a personal PIN code, plus a scan of a user's palm vein for biometric authentication. Robocoin has machines in 13 different countries and accepts 12 different national currencies ...


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