Bitcoin Shop Inc. announced an investment in Coin Outlet Inc. as part of a plan to distribute a global bitcoin kiosk network

"The bitcoin ecosystem is comprised of a few key areas, mining, wallets, exchanges, payment processors and ATMs/financial services. Over this past year we have made several investments and partnerships throughout these key segments of the industry in an effort to lay the foundation for our universal digital currency ecosystem. Today we are pleased to announce our investment in, and partnership with Coin Outlet. Their ATMs should allow consumers to exchange fiat currency for bitcoins through one fundamental and easy-to-use transaction. Additionally, with the help of Coin Outlet we plan to leverage their ATM network as another on-ramp to our planned universal digital currency ecosystem," said Bitcoin Shop CEO Charles Allen.

Coin Outlet plans to house kiosks in several U.S. cities, with the first 30 installed by the end of 2014 before establishing a nationwide network. Bitcoin Shop's initial investment in Coin Outlet is $50,000, with a $100,000 option due by January 15, 2015. The Arlington, Virginia provider of digital currency platforms can also opt to exchange 3.5 million shares of the equity for 75,448 shares from Coin Outlet's founder Eric Grill, which, along with the investment option, would add up to a 9.8% ownership of Coin Outlet's outstanding equity.