In Argentina, 4000 ATM crypto will be installed!

The Central Bank of the Republic of Argentina (BCRA) this month simplifies rules for the regulation and operation of ATMs in the country. Perhaps the unexpected result of this is the plan to install 4000 new crypto checkout machines.

In Argentina, 4000 ATM crypto will be installed!
The new rules do not directly refer to Bitcoin or other crypto currencies. They only allow you to install ATMs in non-banking institutions, such as supermarkets, shopping centers, and cinemas.

In addition, the rules allow independent players to enter this market. Until recently, only Banelco and International Link's licensed local networks were operated. And all the ATMs belonging to these two networks are in the banking premises.

The central bank has expanded the regulatory framework for the sector, and now independent and third-party operators can integrate into existing payment systems.

One of the first major players to take advantage of changes in the rules is the Odyssey Group. Company CEO Sebastian Poncelis (Sebastian Ponceliz) said:

We have an initial agreement on installing 4,000 ATMs ... but this is only a fraction of the 30,000 new machines expected by the Central Bank across the country.
The ATM model planned to be installed is the Octagon. Odyssey last year installed more than 200 such machines throughout Argentina, but at that time these machines could not access a wide banking network. It is a pure ATM crypto, providing two-way exchange services Bitcoin, Ether and Litecoin.

However, due to weakening regulation, these machines can be widely used as a convenient gateway between Fiat and crypto-currency products.

ATM will cost $ 8,000 plus installation fee of $ 1,000 to $ 1,500. And the owner must keep the money supply in it. Odyssey representatives describe their products as "really just a vending machine that provides cash, not snacks or soda."

The owner receives commission payments for each transaction made via ATM, and the Odyssey analyst assumes that the initial fee will be paid within five or six months. The average number of transactions per month in a working ATM is 10,000. So, now the place chosen successfully, not limited by the bank wall, can make this kind of excellent investment from ATM.