Spanish Crypto ATM Company Bitbase Eyes European and Latam Expansion – For the coming year, Bitbase, a cryptocurrency ATM company with branches all over the world and a base in Spain, plans to extend its global expansion. Two decentralized Web3 firms made investments in the business, which already operates 100 cryptocurrency ATMs in Spain, to aid in its expansion into other regions.
Dextools, a business that develops tools for managing tokens in decentralized exchanges, bought 22% of the company, while Woonkly, another decentralized exchange and NFT marketplace, now owns 5% of Bitbase’s stock. With this investment, Bitbase wants to enter the metaverse and Web3 markets as well, benefiting from the expertise and organizational capabilities of these two businesses.
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The business, which presently has 30 store presence, uses a business strategy that explains to users how to do transactions in cryptocurrency, assisting people to the space. According to a press release, Bitbase is considering expanding its operations and setting up offices and cryptocurrency ATMs in many European nations.
In order to grow to countries like Italy, England, Germany, and the Netherlands, Bitbase announced that it is now looking for licenses. The company still intends to continue adding ATMs in Spain, where it anticipates adding 100 more before the end of the year to reach 200 ATMs.
Cristian Bono, CCO and partner at Bitbase, stated: “We are also going to open one or several stores in each of these European countries, duplicating the business model that we have done here in Spain and positioning ourselves as the largest exchange with physical stores.”
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Latam is also of interest to the corporation. On July 15, Bitbase debuted its entry into the area by opening a branch there. The company said in July that it was in discussions to establish a presence in Venezuela and was looking for qualified personnel to manage stores that would be opened there. The press release indicates that the stores in Venezuela should begin operating “soon,” despite the fact that there have been no formal updates on the progress Bitbase has achieved in these activities.
