This summer the Bitcoin ATM users can also find Dai stablecoin in the ATM. As the Bitcoin ATM manufacturer, Coinsource is planning to add the stablecoin. The preparations are taking place tirelessly for the presentation of full remittance service. It is expected that Dai will protect the user from the intrinsic volatility of the crypto market.
The decentralized stablecoin Dai is created on Ethereum blockchain and is attached with the US dollar in 1:1 ratio. There is a sharp growth in the count of Bitcoin ATMs, in US alone 3200 ATMs are installed all over the country.
In various states of US Coinsource have installed 200 Bitcoin ATMs. In the forthcoming days, these machines can transact Dai having the freedom to buy, sell, or hodl the stablecoin on the blockchain of Ethereum. In addition to the installation of new machines in 29 different US states, they will also update the existing machines.
In the second phase of the launch, the company will rollout remittance services, through which customers can send currencies from one wallet to another wallet. The remittance service will allow the recipient to redeem the funds in the Coinsource ATM.
The principal product officer of Coinsource has said people do not desire to waste their money in the volatility of cryptocurrencies and wants to save as much as they can in remittances.
As of the now, the remittance facility will be accessible to US clients only.
The company has declared as soon as the customer completes the KYC formalities, they can use the Coinsource ATM and send Dai to the wallet of their choice.
By offering Dai, Coinsouce is planning to extend financial service to the unbanked population. The CEO of the organization Sheffield Clark has said by offering Dai they are trying to provide the benefits crypto to the customers who do not have access to the bank accounts, equivalently shielding them from fluctuating market condition of cryptocurrencies.
He further said the remittance services attached to cryptocurrencies are complex, but they are trying to make it as simple as possible for the regular customers.