September 24, 2023

Hyosung America Adds Bitcoin To 175,000 Atms


ATM manufacturer Hyosung America and DigitalMint, the cash-to-crypto company, have recently decided to collaborate. Hyosung America has around 175,000 ATMs installed in different regions in the United States and thanks to the deal between the two companies, people will now be able to make BTC purchases at any of these.

DigitalMint offers its own payment channels for payments via Bitcoin (BTC) and Litecoin (LTC), which include teller terminals, bank wires, and ATMs. Apart from that, it also provides software API interfaces that can be used by ATM owners and retailers for selling BTC via their machines.

The agreement

The announcement of the agreement came on Tuesday and it was disclosed that the crypto buying services offered by DigitalMint would be incorporated by Hyosung America in its API based app store, which will be launched soon. It should be noted that this store will be designed specifically for the automated teller machines (ATMs) of the company.

But, Hyosung America will leave the decision of offering DigitalMint’s services to the individual ATM operator, which means they can decide in favor or against it as well. This means there is a possibility that not all of the 175,000 ATM machines of Hyosung America will provide support for bitcoin purchases.

Benefits for ATM operators

Hyosung America’s chief marketing officer, Brad Nolan said that ATM operators would be able to use the API-based app store for selling bitcoin, but that’s not all they will be able to do. It will also enable them to offer a number of other services to their clients.

He added that any ATM operator would be able to use the app store with their retail software platform and this would enable them to download apps and subscribe to them, including DigitalMint. These apps would enable the ATMs to offer greater functionality. In this way, ATM operators will be able to benefit from new income streams as will the merchants they are working with.

DigitalMint to benefit

It should also be noted that a greater number of people would also be exposed to the services offered by DigitalMint because Hyosung America has an extensive ATM network. But, it should be noted that DigitalMint is currently only offering crypto buying services for two cryptocurrencies and it is not evident if the companies will collaborate to add support for more in the future.

As for Hyosung America, it is affiliated with Hyosung Inc., which is based in South Korea, and it claims to be the United States’ largest ATM operator. It is likely that there will be more crypto collaborations in the future, given that it has introduced an API-based app store.

Crypto ATMs are also quite popular in the United States, as statistics show that it has the highest number of bitcoin ATMs in the country. This number currently stands at 33,772, while the second highest number of ATMs can be found in Canada, which is 2,438. It should be noted that the total number of Bitcoin ATMs that have been installed worldwide is around 38,430.

Leave a Reply

Your email address will not be published. Required fields are marked *