Cryptocurrency is still pretty big in the country of South Korea. More specifically, the region is home to quite a few big cryptocurrency exchanges. Bithumb, one of the largest exchanges in the country, is now looking to make another big move. More specifically, they want to bring ATMs to market in the very near future.
It is evident Bithumb is going down on an interesting path. This particular cryptocurrency exchange has made quite a name for itself over the past few months. They are one of the market leaders in South Korea when it comes to cryptocurrency trading volume. Additionally, the company also has brick-and-mortar offices for users who want advice or have any questions. So far, these ventures seem to be panning out quite nicely.
A Bold Move by Bithumb
Even so, companies such as Bithumb are always looking to improve their position. It now seems the company wants to bring cryptocurrency ATMs to the entire country. That is a remarkable venture, although it is not as impossible as one might think. South Korea is very open-minded when it comes to cryptocurrencies and anything is possible in this country right now.
Venturing into the ATM business will certainly be an interesting choice. It seems the company has partnered with a few different manufacturers in South Korea as of right now. Uno Space, TROS Systems, and IYU are all part of this ongoing venture as we speak. This does confirm Bithumb will not develop the kiosks in-house, although their services will be integrated on the software side of things.
Moreover, it seems Bithumb aims to provide the cheapest Bitcoin ATM service. Their current plan is to be at least 10% cheaper than any competitor. That will be quite an interesting development to keep an eye on. For the time being, his new plan certainly sounds appealing. Bringing more cryptocurrency services to the market is always a good thing. Whether or not it will lead to more adoption, remains to be determined.
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