Ukrainian Bitcoin ATM developer Intellogate is expanding its services to Asia through a new partnership with two South Korean firms.
See related article: Singapore crypto ATMs shut down to comply with central bank rules
- South Korean blockchain service provider Publish and kiosk producer Lincrux signed a memorandum of cooperation with Intellogate to leverage their crypto ATM expertise for Asia-wide installations.
- Intellogate installs 5,000 payment terminals a year across 25 countries, and owns a network of crypto ATMs.
- There are few crypto ATMs in Asia compared to North America and Europe, with Hong Kong leading the way with 139 units, which is less than 0.5% of the U.S.
- Crypto ATM operators in Singapore halted operations as the country’s central bank issued new guidelines to limit consumer marketing of crypto.
- The global crypto ATM market’s current estimated value of US$35.8 million is expected to grow to US$3.55 billion by 2030, according to Allied Market Research.
See related article: Walmart quietly installs 200 Bitcoin ATMs with Coinstar, Coinme