BitXatm to bring 1000 bitcoin ATMs to America
The digital currency bitcoin is experiencing a global boom, and Germany's BitXatm is looking to capitalise on it. The Munich-based startup is aiming to create the largest bitcoin ATM network in the US, having partnered with Californian startup CryptVision.
The collaboration will see BitXatm ship 1,000 of its Sumo PRO machines across the Atlantic. The machine can be used as an ATM to dispense funds or as a POS system, allowing users to pay with cryptocurrency e-wallets. According to BitXatm's CEO Gabriel Prodanescu, the strategic partnership will be of enormous value to both companies.
"We strongly believe that BitXatm represents an essential element of the new ecosystem, providing the public with the easiest way to buy bitcoins – something that held back wider adoption of bitcoins in the past," he commented.
Getting into the lucrative US market presents BitXatm with a wealth of opportunities. If it can prove that its groundbreaking technology is a viable alternative to traditional cash ATMs and payment systems, we could see cryptocurrency being adopted more widely across the globe. And that, of course, means there could be plenty more Sumo PROs around.
Whereas the emphasis is often on Davids dancing with Goliaths, this is a fantastic example of two Davids dancing together. However, depending on the success of this venture, there may be room for a Goliath yet.