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 installed cryptocurrency ATMs. in Spain. Bitbase is also working to obtain licenses to start operating in countries such as Italy, England, Germany and the Netherlands, and in Latam countries such as Venezuela.
Bitbase receives significant investments
Bitbase, a cryptocurrency ATM company based in Spain with offices around the world, now aims to expand further into new territories by 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 in new markets.
Dextools, a company that offers a number of tools dedicated to managing tokens on decentralized exchanges, acquired 22% of the company, while Woonkly, another decentralized exchange and NFT marketplace, now owns 5% of Bitbase shares. . With this investment, Bitbase now hopes to enter the metaverse and Web3 side of the equation as well, backed by the knowledge and structures of these two companies.
The company, which currently has 30 physical stores, has a business model that explains to users how to transact with cryptocurrencies, helping them to enter the cryptocurrency environment.
European and Latam Expansion
In a press release, Bitbase reveals that it is currently considering several countries in Europe to expand its business and set up crypto offices and ATMs. Bitbase stated that it is currently seeking licenses to expand into regions such as Italy, England, Germany, and the Netherlands. Even so, the company wants to continue installing more ATMs in Spain, where it plans to install 100 more units before the end of this 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 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 stated that it was in talks to open an office in Venezuela, looking for talent to operate the stores that will open in the country.
While there have been no official updates on the progress Bitbase has made on these operations, the press release states that stores in Venezuela should be operating “soon.”
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