Cryptocurrency

Overtaking El Salvador, Australia Is Now The 4th Largest Crypto ATM Hub.


Key Highlights:

  • Australia recently passed El Salvador to take over the position of the fourth-largest crypto ATM hub worldwide.
  • During the final quarter of 2022, the nation based in the Southern Hemisphere deployed an astounding 99 cryptocurrency ATMs.
  • Spain built 215 cryptocurrency ATMs in October, but as of right present, it has 226 ATMs, moving them up to the third place.
  • At this rate, Australia’s 0.6% share of all crypto ATM installations worldwide may soon surpass Asia’s 312 crypto ATMs.

Australia has surpassed El Salvador to become the fourth-largest hub for bitcoin ATMs, according to data provided by CoinATMRadar, an internet analytics business that tracks the overall number of crypto ATMs worldwide.

Australia installed 99 bitcoin ATMs across the nation in the fourth quarter of 2022, which caused a significant shift. The nation had 216 operational crypto ATMs.

Which other countries are on the list?

With 222 of its own, Poland has now surpassed both Australia and El Salvador in terms of the number of cryptocurrency ATMs.

The United States tops the list of countries with the most bitcoin ATM installations, and as a result of earlier issues related to cryptos, its attitude toward cryptos has become more cautious.

Throughout the entire competition, Spain and Canada both remained in second and third place, respectively. However, the number of bitcoin ATMs is around ten times more in Canada than in Spain. Overall, there is now an all-time high of around 40,000 of these machines.

What’s more happening in Australia?

The recent widespread acceptance of cryptocurrencies in Australia has prompted regulatory organizations to step up their regulation efforts for the sector. The Reserve Bank of Australia and the Digital Finance Cooperative Research Centre teamed together in September to investigate the potential applications of a central bank digital currency (CBDC) in the country. The nation anticipates running its CBDC pilot program through the middle of 2023.

The government of Nigeria was compelled to cap ATM cash withdrawals to $225 (100,000 nairas) every week as a result of the country’s efforts to push the adoption of its own central bank digital currency (CBDC), known as eNaira.

While announcing the drive, the director of banking supervision, Haruna Mustaf, said, “Customers should be encouraged to use alternative channels (internet banking, mobile banking apps, USSD, cards/POS, eNaira, etc.) to conduct their banking transactions.”



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