Australia overtakes El Salvador to become 4th largest crypto ATM hub

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El Salvador’s presumption arsenic the fourth-largest crypto ATM hub was short-lived arsenic Australia stepped up its crippled implicit the pursuing months.

Australia overtakes El Salvador to go  4th largest crypto ATM hub

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El Salvador, the archetypal state to legalize Bitcoin (BTC), has been pushed down yet different spot successful full crypto ATM installations arsenic Australia records 216 ATMs stepping into the twelvemonth 2023.

As portion of El Salvador’s thrust to found Bitcoin arsenic a ineligible tender, President Nayib Bukele had decided to instal implicit 200 crypto ATMs crossed the country. While this determination made El Salvador the 3rd largest crypto ATM hub astatine the time aft the United States and Canada successful September 2021, Spain and Australia overtook the Central American country’s ATM number successful 2022.

On October 2022, Cointelegraph reported that Spain became the third-largest crypto ATM hub aft installing 215 crypto ATMs. However, Spain continued its installation thrust and is location to 226 crypto ATMs astatine the clip of writing. El Salvador’s presumption arsenic the fourth-largest crypto ATM hub was short-lived arsenic Australia stepped up its crippled implicit the pursuing months.

In the past 3 months of 2022, Australia deployed 99 crypto ATMs, confirms data from CoinATMRadar. As of Jan. 1, 2023, Australia recorded 219 progressive crypto ATMs, overshadowing El Salvador by 7 ATMs astatine the clip of writing.

Australia represents 0.6% of planetary crypto ATM installations and, astatine this rate, is well-positioned to instrumentality implicit Asia’s crypto ATM numbers, which basal astatine 312 ATMs. The full fig of crypto ATMs worldwide is 38,602, retired of which 6,071 ATMs were installed successful 2022 alone.

Related: Florida best-prepared US authorities for wide crypto adoption: Research

Nigeria’s thrust to enforce the adoption of an in-house cardinal slope integer currency (CBDC) — eNaira — forced the authorities to bounds ATM currency withdrawals to $225 (100,000 nairas) a week.

“Customers should beryllium encouraged to usage alternate channels (Internet banking, mobile banking apps, USSD, cards/POS, eNaira, etc.) to behaviour their banking transactions,” noted Haruna Mustafa, the manager of banking supervision, portion announcing the drive.

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