Bitnovo, Spanish Bitcoin payment platform, has decided to add 4000 new locations throughout the Spain that would allow the customers to purchase Bitcoin using cash in Spain. The expansion move would see an 800% increase in the existing 500 locations available in Spain.
The company is also launching Bitcoin Visa prepaid debit card in 130 countries this year in an attempt to expand beyond Spanish cryptocurrency market and become a major international brand in Bitcoin payments industry.
Bitnovo, soon after establishing in late 2015 occupied a dominant name in Spain’s Bitcoin Industry. The company launched prepaid Bitcoin debit cards within six months that can be used to make withdrawals from any Mastercard ATM around the world.
Spain was one of the first few countries to consider the idea of national cryptocurrencies, launching Spaincoin in 2014. It is speculated that the sustained growth in Bitcoin adoption in Spain is due to the unstable Spanish financial market. The instance where Santander bought Banco Popular for just 1 euro suggests strongly that the banking sector in Spain is still struggling from 2008 global financial crisis.