Argentina about to launch 4,000 ATMs for cryptos

Posted 02 May, 2018

Once Argentina's Central Bank revised the existing regulation, many companies have become able to launch new ATM machines in the country. Odyssey Group reportedly expressed intentions to put on stream 4,000 ATMs. As it has been claimed, the machines will support bitcoin, but also Ethereum and Litecoin.

"They are not going to be just cashiers for people to get money, they are also going to issue prepaid cards, they can be used for e-commerce, transfers through blockchain, cryptocurrencies and microscoring linker for microcredits," stated company CEO.

We have pre-agreements to install 4,000 ATMs, the plan is to have 5,000 in two years,” he added.

With these machines, users will be able to withdraw money from their bank cards, though they will also have e-wallets features. Specifically, the ATMs will be capable to cooperate with smartphones for cryptocurrency transactions. 

According to the reports, such machine costs about $8,500. The company expects that the machines will be repaid in 6 months thanks to commissions received.

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