Hyosung America has signed a partnership agreement with cash-to-crypto provider DigitalMint that enables the purchase of Bitcoin (BTC) at the company’s 175,000 ATMs in the United States.
Aside from offering its own BTC and Litecoin (LTC) payment bars such as ATMs, bank wires and tellers, DigitalMint also provides API integration that allows retailers or ATM operators to sell BTC through their hardware.
As part of the deal, announced Tuesday, Hyosung America will add DigitalMint’s crypto-purchasing services to its upcoming API-based app store, which is being built for the company’s ATMs.
However, it will be up to the specific ATM operator to decide whether or not to integrate DigitalMint’s services, which means that the majority of Hyosung’s 175,000 ATMs are unlikely to support BTC purchases.
Brad Nolan, Marketing Director of Hyosung America, stated that the API-based app store will not only provide ATM operators with an opportunity to sell BTC, but will also provide an opportunity to offer them a host of new services:
“Through the App Store, any ATM operator that uses our retail software platform can sign up and download apps like DigitalMint, enabling their ATMs to do more – leading to new revenue streams for operators and the retailers they partner with.”
Due to the size of Hyosung America’s ATM network, it may provide significant customer exposure to DigitalMint’s services. It is unclear if the duo has plans to launch further collaborations, however, considering that DigitalMint offers crypto-purchasing services for only two crypto assets.
Hyosung America is a North American subsidiary of South Korea’s Hyosung, Inc, and claims to be the “largest ATM provider” in the United States. The company hasn’t made any notable crypto startups aside from that, but since it’s running an API-based app store, more crypto partnerships could follow.
Related: Bitcoin ATM Operators Set up Anti-Money Laundering Association
According to data from Coin ATM Radar, as of this month, there are currently 33,772 Bitcoin ATMs installed in the United States, making it the country with the largest number of BTC ATMs in the world. In contrast, the second-placed Canada has only 2,438 BTC ATMs installed, while the combined number for the entire world is 38,430.
Coin ATM Radar data indicates that interest in crypto-friendly ATMs is waning, as Cointelegraph reported on June 5 that global Bitcoin ATM facilities hit a record low in May at just 202, a range not seen since 2019. 714 June. However, the number is still far from the all-time high of 2037 that was published in August 2021.
