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Partnership allows Crypto ATM Company to Streamline Compliance

Roseville, CA — May 18, 2021—ComplyFit, the leader in money transmitter licensee reporting, announced a new partnership agreement with CoinFlip, the leading global Bitcoin ATM operator, to organize and streamline the company’s compliance efforts at the state and federal level. CoinFlip currently operates in 46 states and will leverage the groundbreaking tool to file quarterly reports, annual renewals and other reporting obligations at scale to align with the company’s rapid growth.

Cryptocurrency is a growing financial market that still faces scrutiny and associations with illicit activity. Extensive reporting and sharing of transactions help alleviate those concerns and allow businesses and consumers to have faith in the emergence and acceptance of digital currency. As a ComplyFit client, CoinFlip will have the latest technology to continue its efforts as a standard-bearer for cryptocurrency ATM providers across the country.

“The cryptocurrency market is experiencing an explosion of consumer and business interest right now, which naturally encourages more regulation at both the state and federal levels,” said Annelise Strader, Co-Founder of ComplyFit. “Our mission is to help every money transmitter manage the increasingly complex nature of compliance and reporting. We’re honored to work with CoinFlip as it expands its network throughout the country.”

“As CoinFlip enters into new states and markets, we must find new and innovative tools to keep up with the evolving nature of cryptocurrency,” said Ben Weiss, CEO of CoinFlip. “Our partnership with ComplyFit helps our company remain compliant in the 46 states we operate in and ensures our stakeholders that CoinFlip always has and will continue to be a leading and respected company in the industry.”

ComplyFit software is built by compliance professionals to save money transmitters time, money and headaches. By using the software, MTL reporting adds an added layer of verification and security to each transaction offering the sender and recipient a peace of mind.

For more information about ComplyFit or to schedule a demo of the platform, please visit https://complyfit.com/.

About ComplyFit:

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ComplyFit is a SaaS productivity tool that enables crypto and fintech companies to manage their state money transmitter licenses across each of the 50 states. Features include quarterly reporting, annual renewals and reports, advanced change notice requirements, and miscellaneous required reports. The platform is updated regularly by compliance professionals with the assistance of machine learning technology keeping licensees on top of regulatory reporting changes in near real-time. ComplyFit saves licensees the tedious task of having to compile, update, and track this information manually. Founded in 2019, ComplyFit is based in Sacramento, California.

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About CoinFlip:

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CoinFlip is the leading Bitcoin ATM operator globally, with over 2,500 machines across 46 states supporting the buying and selling of nine major cryptocurrencies with cash. The company cuts typical transaction fees by more than half, offers an incredibly simple user experience and introduced 24/7 customer support, which has now become an industry standard. CoinFlip’s goal is to advance crypto adoption, accessibility and liquidity to support communities, like the underbanked, who need it most. Its ATMs are on the frontline of a financial revolution, where Bitcoin and blockchain technology can empower those who have been left behind by legacy financial institutions. Founded in 2015, CoinFlip is headquartered in Chicago.

This release originally appeared on PRWeb, and can be viewed here. If you have questions, you can contact Annelise Strader at (781) 710-2737 or schedule a demo here.

The world’s largest cryptocurrency ATM provider is partnering with celebrity Neil Patrick Harris.

What Happened: Coinflip is launching a new advertising campaign called “So Flippin’ Easy” that features actor and crypto investor Harris.

The campaign will center on Coinflip’s ATM and cash to Bitcoin model. CoinFlip is the leading global cryptocurrency ATM operator.

“Cryptocurrency is the future of how we shop, invest and do business, but it can also be incredibly technical and intimidating,” Harris said in a statement.

The campaign will center on education of the public of the ease of use for the company’s ATMs. CoinFlip provides a simple easy way to invest for beginners in the crypto space, according to the company.

'It’s why I joined forces with CoinFlip — their ATMs make it so anyone can turn their cash into a significant investment opportunity with a great return,' Harris said.

Related Link: Such Popularity, Much Wow! Dogecoin Now Available At 1,800 ATMs Across US

Why It’s Important: Harris is a well-know for his work in television and on Broadway. He has over 25 million followers on Twitter and another 8.6 million followers on Instagram.

“I’m pleased to partner with [CoinFlip] and spread the word about how their ATMs and online Trade Desk services work so more people can have access to the exciting world of cryptocurrency,” Harris said.

More consumers are looking for ways to invest in cryptocurrency. CoinFlip is seeking to appeal to beginning investors.

The company calls Harris a great spokesman, as he was someone who started out investing in cryptocurrency early as a beginner and educated himself more over time.

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“Cryptocurrency can be intimidating and one of the things we set out to do with this campaign was to demystify it by showing how simple it can be to buy Bitcoin,” CoinFlip CEO Ben Weiss said in a statement.

“As a company, CoinFlip is committed to helping everyone have access to the benefits of Bitcoin.”

A television campaign created by advertising agency The Boathouse will launch nationally across television, OTT, YouTube and social channels. The television and OTT spots will begin in the large markets of Chicago, Boston, Tampa, Denver and San Antonio before launching nationally.

CoinFlip was founded in 2015 and has over 2,500 ATMs across 47 states. The ATMs support the buying and selling of nine major cryptocurrencies including Bitcoin and Dogecoin.

See Also: How To Buy Bitcoin

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Photo: Actor Neil Patrick Harris. Public domain photo via Library of Congress.

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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.