Bitcoin Latinum is partnering with the Arizona-based service company OSO ATMs to help install 100,000 Bitcoin and Bitcoin Latinum ATMS across the United States.
OSO ATM is expected to install 60,000 LTNM ATMs throughout the five-year partnership. LTMN was developed by Monsoon Blockchain Corp., on behalf of the Bitcoin Latinum Foundation.
“This partnership will allow the users of different states of the U.S to buy or cash out Bitcoin Latinum and Bitcoin, which will further help in the mass adoption of Bitcoin Latinum,” said Bitcoin Latium founder Donald Basile.
Oos Arikat, chief operating officer at OSO ATM-Nationwide ATM Co., noted the expanding global share of crypto ATMs. “In El Salvador for instance, Bitcoin ATMs allow people to transact in the crypto token or convert it to fiat,” he said. “Bitcoin Latinum aims to bring the ease of using cryptocurrencies in the United States, and we are extremely proud to be a part of their journey to take cryptocurrencies to the mainstream audience.“
Community banks are starting to warm to cryptocurrencies. Earlier this year, Oklahoma community financial institution Vast Bank became the first nationally-chartered, FDIC-insured bank to allow customers to buy, sell and hold cryptocurrencies through a user interface. The program is being rolled out through an institutional policy with the cryptocurrency exchange platform CoinBase and includes mobile banking apps available on Google Pay and Apple Apps.
Industry professionals and consultants agree that cryptocurrencies will be a key feature for community bankers in the coming years as more consumers seek decentralized finance while yearning for the security financial institutions offer. This year, the market capitalization of all cryptocurrencies reached a record $2 trillion, and there are almost 10,000 different cryptocurrencies. The majority are considered relatively small, and do not play a major role within the crypto market.