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Bitcoin exchange service provider Atlas ATS entered the European market with a new offering Atlas ATS Europe.
Atlas ATS, a bitcoin exchange platform with headquarters in New York, expanded to the European market by commissioning Atlas ATS Europe. The launch is a product of cooperation with Recol Pro S.A., bitcoin ATM network and exchange company based in Spain.
The new offering comes after the company entered Asian market in July this year. Atlas ATS partnered with Chinese bitcoin ATM producer BitOcean for a new digital currency startup dubbed BitOcean Japan.
In an interview to CoinDesk, Shawn Sloves, CEO of Atlas ATS and Rafi Reguer, chief marketing and communications officer, said the company aims at expanding globally and European expansion is the latest example of its commitment.
Reguer told that Atlas intends to cooperate with local operators in a range of different markets. He said: “One of the things that distinguishes Atlas is the idea of embracing regulation and trying to get regulated. For the vast majority of individual investors and institutions out there, if digital currency is going to be a real thing that they invest in, it’s got to be on a platform that’s similar to the existing equities and futures exchanges, all of the bells and whistles that come with that, with all the audit-ability and technology.”
The company’s business was praised by major industry analysts Gil Luria, who told Institutional Investor that he believes Atlas would become the leader at building global trading platform, leaving behind such companies as Kraken and Second Market.
Atlas ATS Europe will involve a trading platform, a bitcoin ATM network and a multi-signature digital wallet.
Recol Pro S.A. CEO Ignacio Ozcariz, commented the partnership: “Recol is positioning itself to be a global operator in the bitcoin ecosystem and Atlas ATS Europe is a key part of that strategy.”
Although ATM access will be available in Spain at first, Recol will then further expand its network.
Sloves told CoinDesk that Atlas is committed to further expand around the globe and is likely to launch its next offering in Dubai.
He added that by cooperating with local operators Atlas is able to provide its offerings in a legal way. The company also sought to operate in Singapore and Hong Kong before the launch in Japan, noting that the company made unique considerations in this market.
He said: “In Singapore, we were developing local registration for AML and KYC, but the one thing that we look for in a country is partnerships. In Singapore, you need a local operator, someone who has a national ID card and can file a corporation. […] In other countries, we set up banking relationships. We’re going to have local operators to handle local law and local compliance.”
Speaking on the future plans, Sloves said: “We’re also launching Africa, where we’re working with another partner firm, and eventually South America.”