$145 Million Bitcoin ATM Market By 2023

According to a study that was conducted by MarketsandMarkets, a business-to-business research firm the cryptocurrency ATM market will grow at a compounded annual growth rate (CAGR) of 54.7% from 2018 and 2023.

This means that the market size of this sector will rise to about $144.5 Million in five years.

Currently, the total number of Bitcoin ATM in the world is about 3,650, up from a figure of 3,500 that was previously reported by online crypto news outlets.

This indicates a daily average of about four Bitcoin ATMs being installed.

It was previously been revealed that the total market size of cryptocurrency ATM was about $6.8 million in 2017 which has since then more than double in 2018 with a figure of $16.3 million.

It was also stated in the study that cryptocurrency ATM that allows users to buy and sell cryptocurrencies, two-way ATMs, will enjoy a higher CAGR compared to one-way ATM. On-way ATMs currently dominate the ATM market with 62.49% while two-way ATMs have only about 37.51%

Asset Backed Crypto Summit In Lisbon

The Asset Backed Crypto (ABC) Summit will be held in Lisbon, Portugal on September 28 and 29.

This two-day event is said to bring in the world’s top cryptocurrency minds including 1,500 attendees, 500 investors and 40 companies.

The event is a unique opportunity to deepen their blockchain technology understanding and get to know the who’s who of the cryptocurrency sphere.

Topics in the said event will include blockchain’s potential use in digital advertising, tokens and their valuations, social media and its rise to prominence as well as the monetary policy in a world of nationals digital currency.

Participants will be able to listen to renowned speakers like Pierre-Jean Hanard, Entrepreneur Expert at the University of Oxford, Mry Patel, bestselling author and ICO advisor, and Kenny Au, the founder of Luxsens and the Luxchain Foundation.

The summit will also showcase a number of ventures that are currently using blockchain technology across various sectors to potentially disrupt a number of industries.

Japan’s Largest Bank Testing Own Crypto

One of the world’s largest bank and Japan’s largest, Mitsubishi UFJ Financial Group is said to be testing using its own cryptocurrency, 'The Mufg coin' which will be used for payments at a convenient store for its employees.

A store located at the bank’s headquarter in Tokyo has a cash register set up to allow Mufg employees to use Mufg coin to pay for products sold in the store.

Employees paying with them present the QR code displayed on their smartphones to the store clerk at checkout.

In addition to making payment at the convenience store, the coins can be used to exchange money between employees of Mufg.

Mufg is widely considered as Japan’s largest financial group with total asset of over $2.76 trillion as of March 31.

Mufg Bank is the subsidiary of the group that is considered to be the largest bank of Japan with offices throughout Japan and in 40 other countries.

E-commerce Giant Of Japan Buys Bitcoin Exchange

A Japanese e-commerce giant, Rakuten has recently announced its acquisition of an unlicensed cryptocurrency exchange platform called Everybody’s Bitcoin Inc.

This is in response to Rakuten’s customers asking for Bitcoin exchange service.

The purchase would be facilitated via its subsidiary firm, Rakuten Card Co. Ltd. and will be based on a stock purchase agreement between its subsidiary and Traders Investment Inc., the parent company of the Bitcoin exchange platform.

At the time of the acquisition, the Bitcoin exchange remains unregistered despite applying for a license in September of last year.

In the view of the regulators there are still a number of problems with the risk management and security protocols on the platform.

Rakuten plans to overhaul the Bitcoin exchange once the deal is finalized which is expected on October 1, 2018.

Once the license is obtained, Rakuten aims to begin offering cryptocurrency exchange services to its customers.

Japan-Based Line Messaging App To Launch Its Own Crypto

Japanese firm Line, an internet-centric firm which is well known for their Line messaging app is said to be launching their own cryptocurrency called Link.

This comes after launching its own crypto-to-crypto exchange, BitBox offering its users with low fee and support for a variety of cryptos.

Line intends to issue the LINK cryptocurrency not via an ICO, but rather, by giving away tokens to users when they use Line services, products or complete specific requests.

The use case for the new cryptocurrency will vary from being used to purchase stickers, webtoons and other services within the firm’s messaging applications to be uses at Bitbox’s trading fees.

Moreover Line intends to eventually use the blockchain behind the LINK token to host decentralized applications (Dapps) that will directly connect with the firm’s messaging app.

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