The partnership between two native fin-tech firms will get Australia 500 two-way Bitcoin ATMs.
The partnership between blockchain start-up DigitalX and ATM developer Stargroup will bring out 2,900 existing ATM’s software adjusted and updated to support the buying and selling of Bitcoins using the machines by the customers. Another report confirms the Stargroup has deployed 500 ATMs in the country and another 2,400 ATMs through Starlink, a Stargroup subsidiary.
At present, there are 16 Bitcoin ATMs that are operational in Australia, with the majority of them in Melbourne, Sydney and Perth. With the coming changes under the partnership, Australia could have around 3000 Bitcoin transaction supporting ATMs.
The cryptocurrency trend has been catching up in Australia. Despite a sharp rise in the Bitcoin usage in the country, Australia ended double taxation of digital currencies in this year’s federal budget. Australian politician issued a bi-partisan call for cryptocurrency legality. Australian authorities recently regulated Bitcoin exchanges, the first time in the country.