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Argentina to Install Upwards of 5000 Cryptocurrency Enabled ATMs

Argentina may soon take the lead in the number of operational crypto-ATMS. According to the Argentine newspaper La Nacion, Argentina could be installing as many as four to five thousand ATMs that use blockchain technology to support cryptocurrencies. The South Florida company Odyssey Group will be providing the ATMs.

Sebastián Ponceliz, the founder and current CEO of Odyssey Group, says that the ATMs will also serve as a bay in which people can manage their cryptocurrencies, as well as withdrawing funds.

“These will not only be Cash Machines for people to extract cash,” Ponceliz said, “They will also be used to issue prepaid cards, as e-commerce platform, to make transfers through blockchain, cryptocurrencies, and linking micro sourcing for micro-credits.”

Ponceliz continued by referring to what he called a new “monetary convergence”, which calls up different kinds of payments and exchanges at different times, whether it be cryptocurrency, cash or e-wallets. He said the human contact point for converging point is the ATM that has the ability, “to transact multiple currencies, turning digital money into physical and vice versa.”

The Central Bank (BCRA) issued regulations that allowed for individuals to operate the ATMs just recently, and the first units are supposed to arrive in the cities of Buenos Aires, Córdoba and Jujuy this month (May 2018).

Some other Latin American locations Odyssey Group has worked with are in Brazil, Colombia, Mexico,and Spain.

Odyssey Group is one of the largest providers of ATMs in the United States. The company also deals in vending machines and facial recognition advertising screens connected through its company Xyncro Networks. Odyssey Group is headquartered out of Miami, Florida.

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Jack Taylor is a freelance journalist who has contributed to many award winning media outlets on a wide range of topics regarding trending technologies, cryptocurrency, blockchain & digital privacy.
Tennessee