Bitcoin ATM Manufacturer— Lamassu, Moves To Switzerland Due To Banking Problems

While some government appears to have had enough of crypto and are doing everything possible to hinder the growth of the industry. Some other countries are doing all it takes to attract the attention of crypto-related companies. This is evident in the case of the popular bitcoin ATM manufacturer— Lamassu which recently left Portugal for Switzerland.

Lamassu Started in Operation in Portugal

Lamassu, which originally assembles it manufactured crypto ATM’s parts in Portugal as recently made it known that it has found a new home in Lucerne, Switzerland.

The popular cryptocurrency ATM manufacturer made it clear that the welcoming nature of Switzerland’s crypto-related environment compared to several other locations has attracted it to the country. Previously, the company has struggled to have a bank account. According to the bitcoin ATM maker, the company has filed for a bank account 15 different times, with 15 different banks. Surprisingly all 15 banks denied them a chance to open a bank account.
This was further explained in a statement which reads:

“We must have been rejected by 15 banks just because we manufacture terminals for bitcoin. Note that as a company we only manufacture hardware and take no part in trading or storing cryptocurrencies,”

Switzerland Solved Lamassu’s Bank Account Problem

The co-founder of Lamassu-Zach Harvey, also acknowledges how easy it was for them to open a bank account in their new home. He made it know in a recent statement that the company was able to open a bank account as soon as it arrived in Switzerland.
Zach stated that: “Just as we arrived in Switzerland we had a nice chat with a small bank in Canton Aargau and now we have a full account at a bank that is completely aware of our business model and happy to have us on board. In fact, you should expect to see one of our cryptomats in their headquarters early this year.”