TokenPay CEO Derek Capo & CMO Steve Stanfield Discuss Bitcoin Romania Deal
In this interview, TokenPay CEO Derek Capo & CMO Steve Stanfield discuss Bitcoin Romania deal. If you enjoy it, remember to check out our cryptocurrency wallets and decentralized exchange over at TokenPay.com.
We did a partnership with a company, called Bitcoin Romania. They have thousands of physical locations. These are like exchange locations. They have ATMs, some of them are kind of like Western Union locations. You can buy and sell Bitcoin and Ethereum with cash. Romania government is already like on board with the crypto. It’s already more or less accepted there. We are proud to have our headquarters in Romania!
I got to like to put in with a couple more details. There’s basically by the end of this month, 15-20 ATMs in Romania that allow people to buy and sell crypto. The other thing is they have about 80 locations of Smith and Smith. Which is more or less kind of the Western Union of Romania. They also have 3,000 locations where they use Zebra Pay. These are basically located or malls and stuff like that, people to be able to buy and sell. I think what people need to realize is that, now for the first time ever, people even have physical contact with another human being. You’ll be able to buy TokenPay, which has never been done before.
The reason why we made this investment, we actually purchased 5% stake in the business, with the option to buy an additional 5%. We did this acquisition because this company has been around for four years. They’re actually a very profitable business in Romania. They are one of the first companies that did stuff with ATMs. They have been the only one of the only countries that’s actually doing a really good job of having ATMs in their network. But it’s actually more to this deal.
They keep on expanding their exposure. For example, there have a pending deal. They are going to have POS locations at 8,000 retailers across the country. Kind of it’s Corner Market stores all over the country’s, was an amazing opportunity there as well. The final piece that we have not publicly mentioned at all is that, we will partner with them to do a centralized exchange, like coinbase through a 50-50 joint venture. So basically they have everything already, they have the ability of paper crypto with a credit card, integrate with the bank and wire etc. What we’re going to be doing is, doing effects.com which is one of the domain names that we purchased. I’m mentioning this is all about long term. We will launch that sometime in the first half of 2019.
There were a lot of people worldwide to be able to participate, purchased TokenPay Litecoin bitcoin and a couple other coins to be able to use that. Now what’s part of this story, why Romania? Why did we make this investment? You know, the remittance market in the world is actually very big! In fact, there’s more than four million Romanians that are in all of Europe. That’s obviously the effect in the history of Romania and how people have migrated all over. The reality is a lot of Romanians are working in the UK, in Germany, in Spain. They’re sending their money back to Romania and one of the easiest fastest ways to do that is with crypto!
So they’ll be able to get their money in the UK, convert it to crypto currencies and they’ll be able to send it to their family and France or whatever! They will just be able to send it through the ATM and cash it out. So, why are we doing this? The initial goal is to learn from their expertise from all of this. Eventually use their expertise with our efforts, to roll out a European network of ATM locations for TokenPay!
It will be the only exclusive privacy coin inside their network! So the only privacy coin that will be allowed for ATMs will be TokenPay. The goal is to have hundreds of locations all over Europe, not just the 15 that they have now. Of course, there’s a lot of great theory to take to get there. But that’s what the long-term. We have a market share there go to the other aspects of the world.