Uruguay’s first crypto ATM may have taken a long time, but it turned out to be an instant hit, with reports claiming the ATM processed over 1,000 cryptocurrency transactions within the first hours of opening to customers at the end of last week.
According to the EFE news agency (via Hola News), the car was officially unveiled on Friday last week in the southeastern town of Punta del Este, in the Maldonado department.
ATM installers are handled by a local crypto company and token operator Open as well as another firm called Urubit . The machine is compatible with fiat as well as Bitcoin (BTC) and Binance coins (BNB). Urubit also worked with trading platform Binance Uruguay when starting the machine.
The opening ceremony was attended by dignitaries, including the Ambassador of Uruguay to Argentina, Carlos Ensiso. Photos from the scene show a crowd gathering around the car.
The city is a major tourist destination and it seems that foreign and local travelers may well be its main destination.
The firms behind the ATM say it was entirely developed in Uruguay and added that they were looking to expand the network in Maldonado with the aim of expanding to the capital city of Montevideo, as well as Colonia in the southwest of the country, another big tourist. access point.
InBierto CEO Adolfo Varela said:
Uruguay has all the conditions necessary to become an international cryptocurrency hub, and could be the starting point for the penetration of this technology into the Latin American region.
The adoption of crypto is an increasingly hot topic in a country where, last year, the regulator, Main Tax Administration , hinted that cryptocurrency could play a role in the real estate market.
The regulator suggested that cryptocurrency could be used as intangible personal property in transactions in which buyers pay for real estate in cryptocurrency.
However, there are also signs that the government will not allow the crypto sector to grow unimpeded. central bank Uruguay has been working hard on an action plan to regulate cryptocurrency since last year.
Earlier this month, the bank hinted that its plan is approaching full formulation, writing in a policy advisory document that it deems it necessary to provide more certainty and clarity about the phenomenon. [криптографии] and its regulatory considerations.
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