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BitXatm to Launch 1,000 Bitcoin ATMs in US

(@pete_rizzo_) | Published on July 20, 2014 at 19:25 GMT

bitxatm, sumo pro

Germany-based digital currency bitcoin ATM and point-of-sale (POS) solution provider BitXatm has announced a new partnership that will find the company shipping 1,000 units to the US in a bid to build the country's largest bitcoin ATM network.

For the initiative, BitXatm will partner with Los Angeles-based CryptVision, a startup that itself is seeking to build the largest network of bitcoin ATMs around the globe. As part of the deal, CryptVision will become the exclusive provider of BitXatms in the US and Canada.

Sergey Yesayan, president of CryptVision, framed the move as one that will find the new company moving quickly to gain a foothold in the bitcoin market, saying:

"In terms of positioning our products all over the country, we're planning to have most of them in place by the end of the year, and are looking for location partners in shopping malls, restaurants and night clubs."

Yesayan said that the bitcoin ATM units will be available for free to qualified operators, with the qualification process for operators beginning 25th July. CryptVision plans to treat the units as vending machines and manage the associated financial responsibilities and licensing.

The announcement follows BitXatm's May upgrade to its Sumo Pro ATM product, and was issued at The North American Bitcoin Conference (TNABC), a two-day community event being held in downtown Chicago.

BitXatm courts US market

Launched in April of this year, BitXatm's signature unit – the Sumo Pro – now provides one-way or two-way transaction capabilities in addition to its POS features. The units were on full display at the TNABC, in the country where the company aims to better cater to its biggest market.

Marcel Bruck, sales director at BitXatm, told CoinDesk:

"US is the number one market. Bitcoin is erupting and you see that most of our customers are also from America. In Europe, you still have a lot of regulations."

BitXatms can accept and dispense any digital currency and offers a web-based back end that allows operators to manage profits, cash flow and to change settings on the ATM remotely.

The company said it will continue to provide support for its ATMs to CryptVision once the units are deployed.

TNABC announcements continue

The BitXatm announcement is the latest in a string of major news stemming from the NABC event this weekend.

Spurred by the launch of new bitcoin lobbying group, the Digital Chamber of Commerce, day one of the conference included major announcements from bitcoin wallet and block explorer provider Blockchain and China-based digital currency exchange OKCoin.

To catch up on day one of the NABC, read our full recap here. For breaking news from the event as it happens, follow CoinDesk on Twitter.

Image via CoinDesk

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