Venezuela has witnessed some remarkable growth in terms of crypto adoption. However, the country’s citizens don’t have access to crypto ATMs. But this will change soon as a company known as Bitbase is in talks with the authorities in Venezuela for installing crypto ATMs.
Crypto services company, Bitbase is in talks with the Venezuela government for crypto ATMs in the country. The representative of the company, Enrique de Los Reyes told Criptonoticias about this development. He stated:
“I have never taken my eyes off Venezuela in terms of opportunity and business, especially now that a commercial opening is taking place.”
The Spain-based company is looking to expand into new markets such as Latam. They’re also planning to enter the Mexican & Colombian markets.
Bitbase expects to finalize talks and start installing ATMs in the country before Q3 2022. Although they haven’t mentioned the number of machines they planning to install, their expectation is to install these around the malls to have a ‘closer connection’ with the customer.
This isn’t the first time Venezuela had seen the occurrence of crypto ATMs before. Previously, Venezuela’s capital, Caracas had two crypto ATMs. However, they had stopped offering deposit and withdrawal services.
As per many reports, crypto adoption in Venezuela is staggering. Statistics also show that people in Venezuela are already using crypto in P2P Markets, such as Localbitcoins and Binance P2P.
Moreover, Bitbase expects to provide an opportunity to the untapped segment of the audience to experience the new technology. However, for that to happen, there is a need for awareness among the community to get to know about this technology.