According to the recent article, Australia, which has the world’s third-largest system of Bitcoin ATMs, is now surpassing Asia when it comes to the overall number of Bitcoin (BTC) ATMs installed.
Australia Moves to Third from Sixth in One Month
Australia has been installing cryptocurrency ATMs nonstop since January 2023, moving up from sixth to third in one month alone.
As per the data by Coin ATM Radar, the nation has continued to work to set up channels for converting fiat currency to cryptocurrency.
Installation of 364 Bitcoin (BTC) ATMs
In contrast to major European countries and the United States, which recorded a decline in ATM installations during that period, Australia continually built Bitcoin ATMs throughout the past eight months.
One percent of the total number of crypto ATMs deployed globally, or 355 machines, are located in Asia, which is located in numerous significant financial systems like China, Japan, Singapore, and India. On the other hand, Australia now has 364 cryptocurrency ATMs after many months of installations.
99 ATMs Installed Between October and December 2022
This information follows data from CoinATMRadar that shows Australia installed 99 cryptocurrency ATMs between the months of October and December in 2022.
At that point, Australia had 219 operating crypto ATMs, 7 more than El Salvador. El Salvador lost its ranking as Australia was named the fourth-largest crypto Automated Teller Machine (ATM) network.
Reserve Bank of Australia Working on CBDC
In the meanwhile, the Reserve Bank of Australia has started a one-year study project to look at the potential economic benefits of a Central Bank Digital Currency (CBDC), should it choose to do so in the future.
Interestingly, the first Bitcoin ATM was set up on October 29, 2013, little over nine years ago, close to a café (Waves café), in the Canadian city of Vancouver. Since then, Bitcoin ATMs have mostly flourished, especially in North America.
It is crucial to note that Coin ATM Radar statistics shows that the United States has the most crypto ATMs and Canada comes in second with 2,549 automated teller machines (ATMs) that take Bitcoin.
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