Argentina Is Using Bitcoin (BTC) ATM Despite The Regulations
Various countries have begun deploying Bitcoin ATM, and today Argentina has also followed the trend.
After Argentine Republic (BCRA) Central Bank accepted Bitcoin Automatic Teller Machines (ATM) in the country, there is sign that the country may receive large 4000 new crypto-enabled ATMs.
Sebastian Ponceliz, the CEO of Odyssey Group, gives more comprehension on the growth saying, plans are ongoing to see that the country installs around 4000 ATM.
“We have pre-agreements to install 4,000 ATMs… but that is only a small part of the Central Bank’s expected 30,000 new machines throughout the country.”
Earlier, Odysssey Group announced that last year it installed around 200 BTC ATM in the country.
“The idea was born from the understanding that the world monetary order is changing,” he told the publication.
“There is what I call monetary convergence that makes us use different types of means of payment and exchange (cash, crypto, e-wallets, loyalty points, etc.) and the human contact point for that is an ATM that can transact multiple currencies, turning digital money into physical and vice versa.”
If ATM’s are scattered, Argentina now has the potential to outpace the crypto currency, since almost all machines deployed in the past do not take into account Fiat and the Crypto-currency at the same time.
Ponceliz added, “Odyssey is the first global platform integrating fintech, cryptocurrency and cash […] facilitating the movement of foreign exchange, commerce and reduction of transaction costs.”