Recent reports show that Media Markt will install Bitcoin ATMs throughout Austria. Earlier on, the startup successfully tested Bitcoin ATMs in Vienna, which led to increased demand for the service.
Recent reports by an Austrian Newspaper outlet indicate that Media Markt will install new Bitcoin ATMs in its 12 branches within Austria. Media Markt is a European-based consumer electronics retail company offering services in almost all European countries.
The network just announced that they would be installing Kurant bitcoin machines within Australia. Kurant GmbH is a company launched as a spinoff of Coinfinity GmbH and has dealt with Bitcoin ATMs since 2014. Media Markt will be installing the Kurant Bitcoin ATMs within the Austrian region.
Before today, the company only operated 1 ATM in Austria. In 2019, Media Markt started a test project of Bitcoin ATMs in the Wien Mitte Branch in Vienna. The company has since decided to install 12 ATMs in 12 branches, including Klagenfurt, Völkermarkterstraße, and Seiersberg.
Richard Zweimuller, the Media Markt Sales manager, said:
“Since customer interest is very high, eleven more machines have now been installed. There has been a substantial increase in demand since the first ATM was launched in Vienna. Hence, they are introducing new ATMs to support the strong demand. Once these machines are installed, investors will have an easy way to purchase Bitcoin through ATMs. “
Accordingly, reports indicate that this network has over 1000 stores around the European region. The number of the stores shows the big market Media Markt can explore if they choose to continue adding ATMs in their stores.
Bitcoin ATM Adoption In Europe and America
CoinATMRadars reports indicate that there are over 36800 Bitcoin ATMs all over the globe, with most of them located in the US regions. The American region has the largest share of Bitcoin ATMs, followed by European regions.
At the moment, Media Markt manages over 200 bitcoin machines within the European regions, in countries like Greece, Germany, Austria, and Spain. A year ago, another retail giant, Walmart, collaborated with Coinme to install around 200 ATMs in the US.
While the adoption of Bitcoin ATMs continues globally, recently, a UK financial watchdog announced a ban on all Bitcoin ATMs across the UK. They even warned of harsh consequences to the shops and supermarkets still holding the ATMs. They claimed that ATMs lack KYC checks for small deposits, making it possible for the ATMs to be used for money laundering.
While Media Mart already has a massive influence in the crypto space, it has suffered severe threats connected to crypto. Last November, an international group lost $240 million in Bitcoin. However, they demanded a $50 million ransom to release the BTC. Although the network has suffered from crypto, their new move shows a long-term commitment to crypto adoption.
Sourced from crypto.news.
Written by Wayne Jones on 2022-07-13 14:29:46.
