Crypto ATM operator announces major expansion in Argentina

Odyssey Group, a provider to retail banks, has announced a plan to install 4,000 traditional ATMs that will also be enabled for cryptocurrency transactions. The group already operates 200 cryptocurrency-only ATMs in the country, according to a report on the Finance Magnates website.

The group's expansion plan responds to a recent announcement by the Central Bank of the Argentine Republic that, for the first time, it will allow the placement of off-premises ATMs in Argentina. Also for the first time, the government will allow the operation of fiat currency ATMs by nonbank providers.

Previously, ATM operating licenses were available only to international Link networks and the local banking network, Banelco. The central bank decision could result in the installation of 30,000 IAD-operated ATMs in Argentina, according to the report.

The number of crypto ATMs worldwide is just under 3,000, according to Statista.

Topics: ATMs, Banking, Cryptocurrency, Regulation

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