Spain is making a case to become a cryptocurrency hub in Europe, and the latest developments show that it is possible.
Bitnovo, a leading Spanish bitcoin payment platform, has partnered with Eurocoin, Europe’s leading supplier of electronic components. The partnership will lead to the installation of 100 cryptocurrency ATMs in the country before the end of the year.
Spain is the leading country in Europe in terms of Bitcoin ATMs, with 199 currently available in the country. The installation of 100 more Bitcoin ATMs in 2022 will take its total to nearly 300. Spain will be behind the United States and Canada in terms of the total Bitcoin ATMs available in a country.
The CEO of Eurocoin, Fernando Dumont, believes the partnership with Bitnovo is a strategic move into the cryptocurrency space. He pointed out that he believes cryptocurrencies will exist alongside the traditional mode of payments.
Spain is planning to become the leading cryptocurrency country in Europe. Following the internet shutdown in Kazakhstan earlier this year that affected Bitcoin’s mining hash rate, Deputy for the Spanish Ciudadanos political party María Muñoz proposed a bill to make Spain a crypto mining hub.
However, there has been no discussion of the bill in the Spanish parliament since then.
North America leads the way in terms of Bitcoin ATMs in the world. At the moment, there are over 36,000 Bitcoin ATMs globally. However, North America accounts for 94.9% of the total number of Bitcoin ATMs globally (the United States has 30,835 and Canada has 2,266).
Europe accounts for 4% while the rest of the world shares the remaining 1%. In Europe, Spain leads the way, with 199 Bitcoin ATMs, followed by Switzerland with 142. Asia, Africa, and South America are far behind the other continents.