Spanish Crypto ATM Company Bitbase Eyes Expansion in Europe and Latin America – Bitcoin Exchanges News
Bitbase, a Spanish cryptocurrency ATM company, plans to continue expanding its services in 2023. The company, which has received investment from Dextools and Woonkly, two decentralized Web3-based companies, aims to reach 200 ATMs from cryptocurrency installed in Spain. Bitbase is also working to get licenses to start operating in countries like Italy, England, Germany, and the Netherlands, and Latin American countries like Venezuela.
Bitbase receives major investments
Bitbase, a cryptocurrency ATM based in Spain company with offices all over the world, now aims to expand into new territories for next year. The company, which already has 100 crypto ATMs in Spain, has received investments from two decentralized Web3 companies that could help it continue growing in new markets.
Dextools, a company offering a series of tools dedicated to managing tokens in decentralized exchanges, has acquired 22% of the company, while Woonkly, another decentralized exchange and NFT market, now owns 5% of the shares of Bitbase. With this investment, Bitbase also hopes to enter the metaverse and Web3 side of the equation, backed by the knowledge and structures of these two companies.
The company, which currently has 30 physical stores, has a business model that teaches users how to transact with crypto, helping people get into the cryptocurrency environment.
European and Latin expansion
In a press release, Bitbase reveals that it is currently considering several countries in Europe to expand its operations and set up ATMs and crypto offices. Bitbase said it is currently seeking licenses to expand to regions like Italy, England, Germany, and the Netherlands. Still, the company wants to continue installing more ATMs in Spain, where it plans to install 100 more units before the end of this year, to reach 200 ATMs.
Cristian Bono, CCO and partner at Bitbase, said:
We will also open one or more stores in each of these European countries, duplicating the business model we have done here in Spain and positioning ourselves as the largest stock exchange with physical stores.
The company is also interested in Latam. Bitbase opened an office in Paraguay on July 15, making its debut in the region. In July, the organization said it was in talks to open an office in Venezuela, seeking talent to operate stores to open in the country.
While there have been no official updates on Bitbase’s progress with these operations, the press release says stores in Venezuela should be operating “soon”.
What do you think of Bitbase and its expansion goals? Tell us in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
#Spanish #Crypto #ATM #Company #Bitbase #Eyes #Expansion #Europe #Latin #America #Bitcoin #Exchanges #News #Crypto