Hyosung America and cash-tocrypto provider DigitalMint have signed a partnership agreement that allows Bitcoin (BTC), purchasing at any of the 175,000 ATMs in the U.S.
DigitalMint offers Litecoin (LTC), and Bitcoin payment rails. These include ATMs, bank wires, and tellers. DigitalMint also offers software API integrations that enable ATM operators and retailers to sell BTC via their machines.
The deal was announced by Hyosung American on July 12. It will include DigitalMint’s cryptocurrency buying services to the upcoming API-based app shop, which is being developed for the firm’s ATMs.
It will be up to each ATM operator to decide if they want DigitalMint’s services to be integrated. This means that it is unlikely that the majority of Hyosung 175,000 ATMs will support BTC buying.
Brad Nolan, the CMO of Hyosung America stated that the API-based app store will offer ATM operators the opportunity to sell BTC and also provide new services.
“With our app store, any ATM operator can subscribe to and download apps like DigitalMint to allow their ATMs do more, driving new revenue streams to the operators and retailers with whom they partner.”
DigitalMint may be able to benefit from Hyosung America’s ATM network’s size because of its potential customer exposure. DigitalMint only offers two crypto assets and it is not clear if they plan to collaborate further.
We are excited to work with DigitalMint on the launch of new technology. Read more here: https://t.co/OyqzhJSmk4 https://t.co/ZkHVZWJB6U
— Hyosung America (@HyosungAmericas) July 12, 2022
Hyosung America, the North American subsidiary South Korean firm Hyosung, Inc, claims it is the largest provider of ATMs in the United States. Although the company has not made any noteworthy plays in crypto, it claims that it is currently working on an API-based application store and could make more.
Related: Association of Bitcoin ATM Operators established to combat money laundering
Coin ATM Radar data shows that the United States has 33,772 Bitcoin ATMs, making it the country with most BTC ATMs. Canada is second with 2,438 BTC ATMs, while the total for the whole world is 38,430.
Coin ATM Radar data indicates that crypto-friendly ATMs are losing popularity. Cointelegraph reported on June 5th that global Bitcoin ATM installation numbers fell to 202 in May, a new low not seen since 2019. Although the figure rose to 714 in June, it is still far below the ATH figures of 2,037 that were posted in August 2021.
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