QwikBit's First Bitcoin ATMs Land at the Isle of Man
Bitcoin ATM operator QwikBit says its first Lamassu units have arrived in the Isle of Man, ready for rollout.
Bitcoin ATM operator QwikBit announced that it has accepted delivery of its first batch of Lamassu bitcoin ATMs.
says the first units have already arrived in the Isle of Man. The machines will be distributed on the island and further afield in the UK. The first locations have already been secured and the company is in talks with Isle of Man regulators about the rollout.
UK rollout coming soon
QwikBit is incorporated in the Isle of Man, and remains confident that local regulators will approve its plans.
“We’ve been looking forward to the arrival of our first batch of Bitcoin AVMs for several weeks. In that time, we’ve been working on securing our first locations in the Isle of Man, and also liaising with Jason Kelly, a specialist lawyer and Vice Chairman of the Manx Digital Currency Association (MDCA), who has provided invaluable insight on local regulatory matters,” says Stan Ho, COO of QwikBit.
If all goes well, the company will proceed to install additional machines in the UK.
Isle of Bitcoin
Lamassu says it is “very excited” by the Isle of Man launch and it is looking forward to the UK rollout.
“This is a big step towards making Bitcoin more accessible in the Isle of Man and in the UK," said Zach Harvey, CEO of Lamassu.
Charlie Woolnough, Chairman of the Manx Digital Currency Association, said the arrival of QwikBit machines represents another step forward towards making bitcoin accessible to the general public and establishing the Isle of Man as “a domicile of choice for crypto-currency businesses”.
The Isle of Man already has a good reputation when it comes to liberal business practices. The MDCA and other bitcoin proponents want to extend these liberal policies to digital currencies and turn the British Crown dependency into a bitcoin-friendly jurisdiction.
Isle of Mann image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.