Well the title is a summary, recently New York which requires crypto companies to register and achieve a license, finally was approved after operating under a provisional license for some time, with plans to expand to all 50 states for approvals, as well as other countries which pair well with Electroneums goals of KYC and the unbanked…
https://www.coindesk.com/new-york-awards-first-ever-bitlicense-to-bitcoin-atm-company/
what I think is most important is the KYC connection, international laws can be tricky and require a lot of man hours to comply and work through, having a partner like this in another nation who is using their own photo ID process to verify users might be something that has a long-term benefit for Electroneum, as well as pairing customers between the platforms, those who want digital access, and those who want physical access, swapping between digital and fiat currency quickly and easily…
they have a similar setup to Electroneum currently, as their coins are all on a back-end in-house “instant” system, similar to the instant transaction system, until they progress and finish up licensing among the other states and expand globally, so I see a lot of similarities but different approaches that could mutually benefit each other… better to make deals like this with young budding companies looking for global reach, before they actually get the global reach and now everyone is trying…
