Stargroup, an ATM machine developer and Digital X, an Australia stock market listed blockchain firm, join together to have about 2,900 ATM's software tweaked and updated to support special APIs and to improve the functionality of buying & selling Bitcoins.
Currently, there are only 16 Bitcoin ATMs in Australia. Once completed, the number of Bitcoin ATMs will increase and Australia will have nearly 3,000 Bitcoin ATMs available locally.
"This development may be applicable to other cryptocurrencies and will be globally promoted," said Todd Zani, chief executive of Stargroup, at a press conference.
Australia market is relatively quiet in the Bitcoin ATM industry, the United States has been immersed in the competition, manufacturers want to launch dozens of ATM during the year to monopolise the market.
This joint-venture marks the confidence of Digital X, the company in June received AUD$4.35 million investment from Melbourne-based Blockchain Global Limited (BGL) in exchange for a 40% stake.
Chief Executive Officer Leigh Travers said we see this opportunity as a great time for Australians to make use of crypto-currencies like the physical currencies.
As a cryptocurrency investor in Australia, we are very happy to learn of this big move.