Currency Exchange International, Corp. (CXI) starts selling Bitcoin and Ethereum powered by Cyclebit and CEX.IO

A new in-person concierge service for buying cryptocurrencies

ORLANDO, Fla., Feb. 17, 2021 (GLOBE NEWSWIRE) -- Currency Exchange International, Corp. (CXI) (TSX:CXI) (OTCBB:CURN), a full service foreign exchange technology and services provider, has partnered with Cyclebit, a Cryptocurrency Payment Gateway, and CEX.IO, a regulated cryptocurrency exchange, to offer the first concierge service experience for buying cryptocurrencies. Customers can purchase Bitcoin and Ethereum in less than 10 minutes at select CXI branch locations starting February 17, 2021.

Purchasing Bitcoin or any other cryptocurrency can be intimidating because the concept of Bitcoin is complex and vastly different from traditional fiat currencies and physical assets like gold - both of which you can see and touch. Others are hesitant to provide the regulatory required “Know Your Customer” (KYC) information to new or unregulated entities for their first purchase.

The number of Americans who own cryptocurrencies almost doubled in 2019, from 7.95% in 2018 to 14.4%, and continues to grow as the price of Bitcoin surges. Currently, the most popular way to purchase crypto is online through cryptocurrency exchanges or offline through crypto ATM's. The goal of this new offering by CXI is to expand access to this emerging asset class by providing a safe, transparent and trusted process to buying cryptocurrencies - in person.

CXI customers will be able to purchase directly from tellers at brick-and-mortar locations across the United States. CXI is set to accept cash, debit cards, and credit cards for customers buying Bitcoin and Ethereum. In addition, the first 1,000 customers will receive a free NFC enabled hardware wallet to store and manage their crypto. The initial in-branch pilot program launches at 12 CXI locations across the United States. "Adding digital currencies Bitcoin and Ethereum to our long list of currencies that we offer was a natural evolution. We are excited to be working with Cyclebit and CEX.IO to be able to offer this new asset class to our US customers," says Randolph Pinna, CEO of Currency Exchange International.

“A concierge service by a trusted brand like CXI for purchasing cryptocurrencies is the type of initiative that will push the adoption and acceptance of cryptocurrencies,” echoed Sameer Pirani, CEO of Cyclebit.

“CEX.IO is a worldwide leader in digital asset trading, and we are excited to partner with strong, regulated companies like CXI and innovative technology providers such as Cyclebit to bring physical crypto purchases to the retail public, thereby engaging a whole new population in the growing worldwide financial paradigm of digital assets,” said Alexander Kravets, CEO of CEX.IO US.