Crypto ATM producer Lamassu confirms XMR support with upcoming 'Forsaken Fiat' v7.6 update
Cryptocurrency ATM manufacturer Lamassu1 has confirmed2 that the upcoming software update Forsaken Fiat (v7.6) will add support for XMR buying and selling:
Yet another cryptoanarchic tool of liberation! Monero is coming to our Bitcoin ATMs with our next update, ‘Forsaken Fiat’ v7.6. $XMR2
Monero has long been among the top requests for new coins from our network of operators, as it affords strong privacy protections to its users.3
Lamassu is the third-largest manufacturer of cryptomats worldwide. According to Coinatmradar4, there are almost 700 Lamassu machines installed worldwide.
The number of ATMs with Monero support is currently 268, which represents ~1% of the total (worldwide) number of cryptomats reported5 by Coinatmradar, which is 28K+.
Lamassu offers a completely decentralized model where operators are in complete control of their machine and open-source software. As such, there are no licensing fees nor do they take a share of operators’ commissions.
Althought the ID verification feature is disabled by default in Lamassu machines, if operators are obligated by their jurisdiction to have an AML compliance program and conduct KYC/ID verification, the manufacturer will assist and help them enable that option.
The machines come with other verification options as well:
- mobile phone number verification
- OFAC sanctions records check
- customer-facing cameras which can be used to capture photos of the machine’s users when placing a transaction (only available in Sintra, Sintra Forte and Gaia machines)
You can check prices, shipping, profitability, models, software and other details on their website and FAQ page6.
Forsaken Fiat v7.6 should arrive later this year, according to the company.