Payment processor and storage provider Coinapult is now seeking customers in the U.S. market. Following a recent services integration with Crypto Capital Inc., a licensed money transmitter in Panama, Coinapult can now allow U.S. clients to deposit, withdraw, and transfer currencies.
Previously, customers of its bitcoin wallet service were blocked from its website because the company was not a licensed money transmitter. Integration with Crypto Capital Inc. eliminates that issue.
In a press release, Coinapult spokesperson stated:
Coinapult is not a licensed money transmitter business, and as such, we did not offer our services to the US market. Now that Crypto Capital will act as a money transmitter on Coinapult’s behalf, we are excited to reopen services to the US.”
Existing customers will now have a wider range of options for moving coin value around, and merchants who accept Bitcoin can keep the Bitcoin without losing value on it. Coinapult allows users to deposit a fiat value of Bitcoin and withdraw that amount of fiat later on. For example, a user can withdraw the deposited amount of bitcoins even if the price has dropped.
Coinapult CEO Ira Miller explains the benefits of the bitcoin wallet service, stating:
People can’t really afford to hold bitcoin for very long. You’ve got to pay rent at the end of the month in euros or dollars, you may even at this time convince your landlord to pay rent using the bitcoin network, but at the same time, you may have market action that happens during those 15 days that means you can’t cover that anymore.”
This announcement brings a new level of stability to U.S. customers looking to secure the value of their coin.
Mackenzie is a Marketing Fellow and a rising junior at Villanova University. She is planning to co-major in Marketing and Finance and minor in Business Entrepreneurship. As a part of her studies, she has created and presented a comprehensive marketing plan to professionals from The Vanguard Group featuring Vanguard's exchange-traded funds.