Coinapult, a payment processor and storage provider, is now offering its bitcoin wallet services for US customers. Prior to this, the company’s website had been blocked in the country since it had not yet obtained the necessary licenses then.
The company has since come up with an integration with Crypto Capital, which is a licensed money transmitter in Panama. With that, the bitcoin wallet can allow US clients to deposit, withdraw, and transfer currencies.
Bitcoin Wallet Services
“Coinapult is not a licensed money transmitter business, and as such, we did not offer our services to the US market. Now that Crypto Capital will act as a money transmitter on Coinapult’s behalf, we are excited to reopen services to the US,” shared its spokesperson.
For US users, Crypto Capital will provide a segregated fiat account and will perform the necessary KYC (Know Your Customer) checks for Coinapult.
As with some bitcoin wallet companies, Coinapult suffered a hacking attack that led to a loss of 150 BTC in March last year. The startup company was able to restore its services this month and add extra layers of security.
In addition, the most well-known feature of Coinapult will still be integrated in the bitcoin wallet service for US customers. Known as LOCKS, this allows users to peg the value of bitcoin to gold, silver, pounds, euros, and US dollars. This should reduce concerns about bitcoin price volatility, especially for those customers not really seeking to profit from any price changes but rather rely on bitcoin to transfer money.
“People can’t really afford to hold bitcoin for very long. You’ve got to pay rent at the end of the month in euros or dollars, you may even at this time convince your landlord to pay rent using the bitcoin network, but at at the same time, you may have market action that happens during those 15 days that means you can’t cover that anymore,” explained Coinapult CEO Ira Miller.