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Articles

Liechtenstein to Have a Network of 5 Cryptocurrency ATMs

Written by: Bridgewest

Liechtenstein is one of the most modern financial centers in the world and in Europe. With a developed economy which is based on the financial industry, Liechtenstein is now ready to be one of the first countries to have a network of cryptocurrency ATMs, given the great number of foreign investors who have opened fintech companies and offer all types of services related to virtual coins. Our company formation agents in Liechtenstein can help entrepreneurs who want to start businesses in the cryptocurrency sector.

The first cryptocurrency ATM is operational in Liechtenstein

The idea of setting up cryptocurrency ATMs came from two students and was welcomed by the House of Blockchain in Vaduz which was also the first institution to have a cryptocurrency ATM installed on its premises.

The cryptocurrency ATM machines to be installed will allow those interested in using them to exchange Swiss francs and euros into various types of digital money, buy various types of cryptocurrencies and even withdraw bitcoins and other types of virtual money. The new machines also have the purpose of educating Liechtenstein residents on the use of digital tokens.

By the end of the year, Liechtenstein is expected to have a total number of 5 cryptocurrency ATMs installed.

Foreign cryptocurrency companies are planning to move to Liechtenstein

This new step towards recognizing cryptocurrencies, Liechtenstein has become appealing not only to foreign investors interested in launching cryptocurrency startups but the Principality has also drawn the attention of cryptocurrency companies seeking to relocate to friendlier jurisdictions. Most of the companies seeking to relocate come from the neighbor Switzerland.

Liechtenstein appeals through the improved legislation in the fintech sector, through the larger number of financial services available and the increasing number of blockchain startups which thrive here.

Foreign investors can open various types of businesses related to cryptocurrencies, among which initial coin offerings (ICOs), cryptocurrency exchanges and blockchain businesses.  If you want to set up such company in Liechtenstein, please feel free to contact our local company registration representatives

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