Customers of the network of thousands of ATMs in 800 cities in Brazil can now draw cryptomoedas in real from a partner with Capitual.
23 thousand ATMs of the Banco24Horas network in Brazil can now withdraw cryptomoedas NEWS
ATMs of Brazil’s largest ATM network, Banco24Horas, can now withdraw cryptomoedas in real money anywhere in Brazil, as Banco Capitual’s advisor announced in an e-mail sent to Cointelegraph Brasil.
Banco cripto Revolut has been fighting for more than a year to enter Portugal’s ‘Multibanco’, a digital transaction network and ATMs
The partnership between Capitual and Banco24Horas was announced in August this year and has just been implemented. Capitual offers a digital wallet with cryptomotes and other fiduciary currencies besides the real, such as euro, dollar and pound sterling, and gold.
At Banco24Horas ATMs, Capitual’s clients will be able to instantly convert any of the funds into the digital wallet, with real settlement at the time of withdrawal.
The Banco24Horas network has no less than 23,000 ATMs throughout Brazil, distributed in 800 municipalities in the country. With the partnership, Brazil becomes the country with the largest number of crypto ATMs in the world, although the service is restricted to Capitual customers.
According to CoinATMRadar, the countries with the largest number of crypto ATMs today are the United States (10,000), Canada (975) and the United Kingdom (242). The numbers of the partnership between Capitual and Banco24Horas, therefore, put Brazil in the spotlight in the cryptosphere.
Bitcoin ATMs are increasing in this Latin American country
According to the CSO of Capitual, Guilherme Nunes, the partnership is unprecedented in the market and the idea is to add financial services to the crypto market more and more:
“Our proposal is innovative and there is no similar in the market. We have advanced in the concept of digital banking by adding to traditional banking services the opportunity to invest in crypto and use them quickly and easily in withdrawals, transfers, payment of bills”.
Banco Capitual has launched other initiatives to integrate cryptoesfera into the Brazilian market. In October, the bank partnered with Binance International Exchange to facilitate withdrawals and real deposits for clients in Brazil.
Cryptomote ATMs continue to grow globally in 2020
In addition to the partnership between Capitual and Banco24Horas, the network of cryptomorph ATMs in Brazil has also grown on other fronts in the last quarter of 2020. In early November, the CoinCloud network announced a series of 11 cryptomode ATMs installed in São Paulo, promising a national ATM network by the end of the year.