You've been redirected from MobilePaymentsToday.com to PaymentsDive.com. In March 2021, Mobile Payments Today became a part of Payments Dive. For the latest payments news, sign up for the daily newsletter.

German Bitcoin ATM-maker will go big in the US with 1,000 deployments

By bringing its product into the U.S. market, BitXatm hopes to demonstrate stability of the Bitcoin system and stimulate mass adoption of cryptocurrency.

German Bitcoin ATM-maker BitXatm has announced that it will take its Sumo Pro machine across the Atlantic to the United States. In partnership with CryptVision, BitXatm will ship more than 1,000 units to the U.S., where they will form the basis of the nation's largest BTM network, according to a BitXatm blog post.

"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," said BitXatm CEO Gabriel Prodanescu. "Our response is to have increasingly more BitXatm machines deployed in the field, hoping to expose our Sumo Pro machines to a large segment of the population and show their practical side from up-close. That will be our contribution to overall visibility and availability of Bitcoin economy among the general public."

According to some estimates, less than 1 percent of world’s population really understands what bitcoins are and what advantages they bring, posing a serious obstacle to widespread mainstream use.

By bringing its product into the U.S. market, BitXatm hopes to demonstrate stability of the system and stimulate mass adoption of cryptocurrency.

The Sumo Pro features "plug-and-play" setup, allows POS transactions through a consumer grade UI, and is AML/KYC compliant, the release said. BitXatm will trust distribution in the United States to CryptVision, a Los Angeles-based distributor.

The process of qualifying authorized U.S. operators will commence on July 25 at www.cryptvision.com under the "ATM location" heading.