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Despite temporarily suspending service to some cryptocurrency ATMs during the early stages of the pandemic, Bitcoin Depot has continued to grow.
The world’s largest Bitcoin ATM operator has announced plans to expand into Circle K locations in the United States and Canada.
Bitcoin Depot announced today that more than 700 of its Bitcoin ATM machines had already been installed at Circle K convenience stores in 30 U.S. states as part of the new partnership. The crypto ATM distributer said the expansion could provide underserved communities with financial access tools and attract more people to the crypto space.
“We have seen cryptocurrency gain mainstream adoption by wealth managers and investment firms over the last year, but what about the people who don’t have access to those services?” Alona Lubovnaya, the director of product at Bitcoin Depot, told Cointelegraph. “ATMs in Circle K locations provide an easy onramp for the underbanked and less affluent, not just those with a wealth manager.”
The company claims to have over 3,500 cryptocurrency ATMs in operation across the United States and Canada, allowing customers to purchase more than 30 different types of cryptocurrencies such as Bitcoin (BTC), Litecoin (LTC), and Ether (ETH). Alimentation Couche-Tard, the Canada-based operator of Circle K, reports that its brand operates roughly 7,150 stores in the U.S. and 2,111 in Canada.
Last year, Bitcoin Depot announced that it was suspending service to certain machines in high-risk areas during the ongoing pandemic. Despite the recent increase in COVID-19 cases and deaths in the United States, the company has since reported that service has been restored to all locations.
The number of crypto ATMs around the world that allow customers to exchange fiat currency for cryptocurrency has increased significantly in recent years. At the time of publication, CoinATMRadar data showed that there were approximately 24,000 crypto ATMs in 75 countries ranging from Kazakhstan to Australia. The vast majority — over 20,000 — are in the United States.
“Our mission is to Bring Crypto to the Masses,” said Lubovnaya. “We will continue to do this with significant partner expansions going forward.”