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Lamassu selects Switzerland’s Crypto Valley for its headquarters

January 3, 2019

Lamassu, the oldest bitcoin ATM manufacturer, has selected Switzerland's "Crypto Valley" in Lucerne as the site for its headquarters, according to bitcoinist. The company presently operates 433 bitcoin ATMs worldwide, including seven in Switzerland.

Lamassu selected the Switzerland for its well-defined rules for bitcoin. Lamassus was unable to find a bank to work with in its native Portugal. The company claims to have found a small bank in Aargau, Switzerland, that will allow the company to open a bank account. 

Switzerland retains its reputation as a bitcoin friendly, despite the fact that Swiss banks have closed their crypto accounts. In the interest of halting an exodus of crypto companies, the Swiss Banking Association has established clearer guidelines for banks regarding working with crypto companies. Switzerland is also close to Malta, Lichtenstein and Germany, all of which are known as crypto friendly.