A Singapore company has created a way for customers to buy gold and silver directly from a Lamassu bitcoin ATM.Quantified Assets, a bitcoin-to-precious metals brokerage, has a prototype machine set up in Singapore's HackerspaceSG, which it is using as a showcase to offer its front-end interface to all 118 Lamassu operators worldwide.Founder and CEO Ville Oehman told CoinDesk the first request from another Lamassu operator came within ten minutes of announcing the service.The company has added the functionality by building its own fork of Lamassu's software, which is open source.The ATM manufacturer has given its blessing to the extensions.Precious metal purchasing is just one of many potential enhancements to the services bitcoin machines like Lamassu's offer, Oehman said."Bitcoin vending machines are a great interface to the bitcoin ecosystem, and in the future they will provide a lot more functionalities ... like sending money abroad."Lamassu CEO Zach Harvey said the company is in communication with Quantitative Assets and will work with its team to get the service integrated with its main platform, so all operators would have the chance to enjoy it.

"We're excited to see what they've done and how they're received," he added.He did, however, caution against completely replacing the official Lamassu software.While the company is in favor of third parties developing further capabilities for its machines, he said, the company is unable to provide upgrades or support in such cases.The process works as follows: a customer selects 'Buy Gold/Silver' from the ATM's main screen, creates a QR code and supplies an email address.Quantified Assets then creates an account for them which can be accessed from its site.Next, the customer scans the QR code and inserts their money – the machine's interface will show the current conversion rate.Finally, the customer receives a receipt for the purchase of the amount of metal their money has bought – this is typically a fraction of a gold bar, Oehman said.Quantified, one of the oldest bitcoin businesses in Singapore, is a bitcoin-to-metals only service.A customer inserting fiat currency into a Lamassu machine has their money converted first to bitcoin, which is then processed as a purchase of metal for bitcoin.

The physical metal itself is stored with "with reputable, fully insured and fully audited storage providers" in Singapore, as per Quantified's customer conditions.bitcoin urteilIt is fully compliant with all Singapore's KYC-AML procedures.litecoin cpu pool minerThe company has also developed an online platform for 'crowd-buying' gold and silver, which can also be used to access and manage metal assets purchased via Lamassu machines.bitcoin urteilSingapore has in recent years established itself as a popular valuable asset logistics and vault storage location, even establishing a free port near Changi Airport and a special police force for its international clientele.how to trade bitcoin on mt4

Quantified Assets says it plans to integrate hard assets other than just gold and silver into the bitcoin ecosystem, and is in the process of partnering with additional precious metals platforms and vaults to offer increased investment and storage options to its international customers.litecoin trading tips"We are specifically looking for partners in China, Russia and UAE at this time," Oehman said.bitcoin czy to bezpieczneSkip to main content One is in a Boat Quay bar, the other is in Citylink Mall We have been experiencing some problems with subscriber log-ins and apologise for the inconvenience caused.Until we resolve the issues, subscribers need not log in to access ST Digital articles.But a log-in is still required for our PDFs.Singapore received its second official bitcoin ATM on 28th February when a Lamassu unit debuted at Citylink Mall.

With a retail space of 60,000 square feet, the country's first underground mall is not the largest to host a bitcoin ATM.But, the venue is still in a high-profile location that connects City Hall with local transit and hotels, which should help ensure its visibility.Of the launch, Zann Kwan, executive director of Singapore-based Bitcoin Exchange Pte Ltd, the company operating the ATM, said she was "happy to bring this potentially groundbreaking technology to Asia and Singapore".Kwan cited the launch as evidence of Singapore's fast-growing bitcoin community, and indicated that her company plans to install more bitcoin ATMs by the end 2014.In particular, she noted the group would continue to target public locations with a heavy traffic flow.The bitcoin ATM, which the company said is "Asia's first public" ATM, will be open from 5am to midnight every day, local time.Notably, the announcement comes just one day after Singapore-based ATM provider Tembusu Terminals revealed the country's first permanent bitcoin ATM.

Bitcoin Exchange indicated that it helped promote the machine with a bitcoin giveaway, in what seems to be an increasingly popular tactic among groups launching bitcoin ATMs.Zann said that the first 50 users would receive S$5 in cash and a paper wallet as part of the first-day giveaway that inspired long lines of interested users.Still, the event hasn't been all positive.Redditors took issue with Bitcoin Exchange, as it did not comment on its fees.The company did not answer questions about its pricing online, but did provide a statement as to why the ATM requires fees."Doing this is actually harder than most people probably think.There is a reason this is one of the first public machines in Asia.[...] There are legal risks, price risk, technical risks and so on and of course hardware costs, rent and so on."Bitcoin Exchange indicated that though Singapore has been its initial focus, it is also exploring opportunities in its neighboring nations in Southeast Asia.Still, despite the company's enthusiasm for the endeavor its market seems to have already been limited by the harsh stances taken by regulators in Vietnam and Thailand.