Coinsource, the Texas-based bitcoin ATM network, has launched five new machines in the Phoenix metropolitan area, marking its first foray into Arizona.
Coinsource CEO and co-founder Sheffield Clark said: “We are really excited about our reach into Phoenix, one of America’s largest metropolitan areas geographically, and the fifth largest by population. We simply addressed a market need there and we are proud to provide more options to people who are starting to use bitcoin, or want to use it, as commonly as they use cash or credit cards.
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We are also proud to start doing business in a state that is so blockchain technology progressive. In March, Arizona Governor, Doug Ducey signed a bill recognizing blockchain signatures and smart contracts as state law.”
Focusing on U.S. expansion, Coinsource reported strong installation figures by quarter. In Q1 2017, the company installed 34 machines, and in Q2, 16 machines, totalling fifty for the first half of the year.
“Coinsource has had a busy three months; we’ve conducted several recruitment rounds, strengthened our team to 20, and are now close to announcing significant projects outside the US. Q3 is set to be our biggest quarter yet, with a higher rate of installations planned, more team members coming on board, and more state by state market entrance,” Clark added.
Concurrent to the installation in Arizona, Coinsource also added two machines in Los Angeles, and two in Las Vegas. It now maintains a network of 116 machines across ten different American states.