Bitcoin ATM provider CoinOutlet is bringing one of its units to BitPay’s Europe Headquarters in Amsterdam.
BitPay recently upgraded its space to a historic complex in Amsterdam’s Golden Bend.
A press release emphasizes Amsterdam as an epicenter for immigration to Europe, and therefore, a busy center for remittance activity. Bitcoin has become a competitive alternative in remittance markets, reportedly saving workers several percent on transactions.
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The move marks the first step in CoinOutlet’s planned expansion to Europe. The company, based in North Carolina, has its ATMs sprinkled at various locations throughout the United States. A few weeks ago, the company installed a machine at Overstock.com’s Salt Lake City offices.
There will be a launch event, held tomorrow, during Amsterdam’s Bitcoin Meetup at BitPay’s office. CoinOutlet and BitPay employees will be on hand to assist with transactions. In addition, BitPay customers can use the ATM for demo purposes.
CoinOutlet’s Director of European Operations, Abhimanyu Dayal, claimed, “This new CoinOutlet bitcoin ATM will revolutionize the Bitcoin ecosystem in Europe. BitPay and CoinOutlet will be educating merchants about Bitcoin — it is a teaching tool for businesses.”