19 September 2021
Bitcoin Depot, the largest Bitcoin ATM operator globally, has entered into a new partnership with the Circle K convenience store chain.
As part of the new partnership, over 700 Bitcoin ATMs have already been installed at Circle K convenience stores in 30 states. The crypto ATM distributor claims this expansion to aid underserved communities with financial access tools and attract more people to the crypto space.
"Over the last year, we have watched cryptocurrency gain mainstream adoption by wealth managers and investment firms, but what about the people that don't have access to those services?" Bitcoin Depot's director of product, Alona Lubovnaya, stated that "ATMs being located in Circle K's provide an easy onramp for the underbanked and less affluent, not just someone with a wealth manager."
Additionally, the company aims to have more than 3,500 crypto ATMs to be installed across the U.S. and Canada, allowing customers to purchase more than 30 different types of cryptocurrencies, including Bitcoin (BTC), Litecoin (LTC), and Ether (ETH). Currently, Circle K brand operates roughly 7,150 stores in the U.S. and 2,111 in Canada.
Last year, Bitcoin Depot had suspended service to certain machines in areas at high risk during the ongoing pandemic. However, the company has now restored its service, despite the recent rise in COVID-19 cases in the United States.
In recent years, the crypto ATM industry has grown tremendously, allowing customers to exchange fiat for crypto. As per data from CoinATMRadar, there are roughly 24,000 crypto ATMs in 75 countries, from Kazakhstan to Australia. The majority are in the United States. "Our mission is to Bring Crypto to the Masses," said Lubovnaya. "We will continue to do this with significant partner expansions going forward."
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.