MediaMarkt, a German retailer in the electronics industry, has reported that Austrians have “sufficient funds” to expand the use of bitmats across their country. This statement follows the successful pilot launch of this type of device by MediaMarkt last summer.
12 bitomats at MediaMarkt
Austrian media giant MediaMarkt plans to install bitomats in 12 of its stores throughout the country, including in Seiersberg and Klagenfurt. According to the Austrian newspaper Kleine Zeitung, a pilot project in one of its stores proved that bitomates in stores offer the opportunity to attract new customers.
The company has collaborated with Austrian company Coinfinity for the implementation of the pilot project. Coinfinity will also help with implementing bitomats.
Currently, Confinity and its subsidiary, Kurant, are responsible for managing more than 200 devices in Austria, Germany, Spain, and Greece.
Ban on bitomats
UK regulators have recently banned this kind of device. According to the FCA, ATMs that exchange cryptocurrencies must go through the registration process. They also must comply with the requirements of UK money laundering laws. However, none of them are meeting these requirements at the moment.
None of the companies offering cryptocurrencies registered with us has been approved to offer bitomat services. This means that any of them operating in the UK are doing so illegally and consumers should not use them. We are concerned about bitomats operating in the UK and will therefore be in contact with operators, instructing them to turn off the machines or take enforcement action.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.