Spanish Crypto ATM Company Bitbase Eyes European and Latam Expansion – Exchange Bitcoin News

Bitbase, a Spanish cryptocurrency ATM company, plans to continue expanding its services in 2023. The company, which received investments from Dextools and Woonkly, two Web3-based decentralized companies, aims to reach 200 cryptocurrency ATMs installed in Spain. Bitbase is also working on obtaining licenses to start operating in countries such as Italy, England, Germany and the Netherlands, and in Latam countries such as Venezuela.

Bitbase receives large investments

Bitbase, a Spain-based cryptocurrency ATM company with offices worldwide, is now aiming to expand into new territories for the next year. The company, which already has 100 crypto ATMs in Spain, received investments from two decentralized Web3 companies that could help it continue to grow into new markets.

Dextools, a company that offers a range of tools dedicated to managing tokens in decentralized exchanges, bought 22% of the company, while Woonkly, another decentralized exchange and NFT marketplace, now owns 5% of Bitbase’s shares. With this investment, Bitbase now hopes to also enter the metaverse and Web3 side of the equation, supported by the knowledge and structures of these two companies.

The company, which currently has 30 brick-and-mortar stores, has a business model that explains to users how to trade crypto and helps people enter the cryptocurrency community.

European and Latam expansion

In a press release, Bitbase reveals that it is currently looking at several countries in Europe to expand its operations and install crypto ATMs and offices. Bitbase stated that it is currently seeking licenses to expand into regions such as Italy, England, Germany and the Netherlands. Nevertheless, the company wants to continue installing more ATMs in Spain, where it expects to install 100 more units before the end of this year, to reach 200 ATMs.

Cristian Bono, CCO and Partner at Bitbase, stated:

We will also open one or more stores in each of these European countries, duplicate the business model that we have done here in Spain and position ourselves as the largest stock exchange with physical stores.

The company is also interested in Latam. Bitbase opened an office in Paraguay on July 15, debuting its entry into the region. In July, the organization said it was in negotiations to open an office in Venezuela, scouting for talent to run stores to open in the country.

While there have been no official updates on the progress Bitbase has made in these operations, the press release says the stores in Venezuela should be up and running “soon.”

What do you think of Bitbase and its expansion goals? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price spike occurred during December 2017. He has a computer engineering background, lives in Venezuela and is influenced by the cryptocurrency boom on a social level, offering a different point of view on crypto success and how it helps the unbanked and underserved.

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