First two-way decentralised currency ATM installed in Malta
Each day, a new development seems to just further cement Malta’s position as the ‘Blockchain Island’.
In an announcement by, Moon Zebra, an ATM firm that allows its users to buy and sell cryptocurrencies using fiat currency, installed the new machine at their Malta office. Through moon Zebra’s collaboration with local Bitcoin maximalist and the co-founder for Bitcoin Club Malta, Leon Siegmund the purpose of the ATM is to promote a greater public interest in crypto amongst the general public.
“When I moved to Malta two years ago, there was not much happening regarding Bitcoin and decentralised ledger technology. But within just 2 years, and thanks to the collaborative effort of many individuals, something very special has happened…and after much blood, sweat and tears, we are happy to launch.”
The new cryptocurrency ATM will give users the ability to buy, sell, deposit, and withdraw cryptocurrency in the same way that a traditional ATM works. Customers can deposit fiat currency into the ATM, enter their wallets public key and have the cryptocurrency of their choice sent instantly.
“Users can also convert crypto back into fiat with the two-way ATM. It also gives people the ability to bypass exchanges and – on some levels- crypto ATMs could solve the issue of exchanges being centralised.”
At first, the ATM will only support Bitcoin and fiat currencies, but in the future, other cryptocurrencies will become available.
The concept of cryptocurrency ATMs is not exclusive to Malta as other sites have been popping up over the USA and Europe during the last few months. It is, however, the first of its type in Malta and it is hoped it is a sign of greater public acceptance and adoption of cryptocurrencies.
If you are looking to set up a cryptocurrency business in Malta, our team of professionals at E&S are on hand to assist you. Visit our ICO Legal Services we offer, or contact us by sending us an email at [email protected]