Could this crypto-centric development make Spain the next EU hotspot

As of October 22, Spain has managed to overtake El Salvador to become the third largest cryptocurrency ATM center in the world. The European country, at the time of writing, was home to 215 crypto ATMs. On the other hand, El Salvador was home to 212 ATMs.

European Union leader – Spain

info from ATM Radar for Coins Show that Spain has the largest number of crypto ATMs in the European region. The country accounted for 14.65% of all ATMs on the continent. Switzerland ranked second with 142 ATMs, followed by Romania with 135 ATMs.

media marketConfinity and Bitnovo were among the companies actively involved in installing ATMs across the European Union. In early 2022, Spanish crypto platform Bitnovo announced a partnership with European electronics company Eurocoin.

joint venture Follow up To install more than 100 ATMs across Spain in a bid to make the country the third largest hub for crypto ATMs. It appears that the goal of Spain’s entry into the top three has been achieved without the need to install 100 ATMs.

Earlier this year in January, Maria Muñoz, a deputy for the Spanish political party Ciudadanos, proposed a bill aimed at making Spain a hub for crypto mining.

The state of encryption in Spain

Crypto ATM installations can be considered an important metric when looking at crypto adoption in different regions. But the fixtures are not entirely dependent on local adoption. For example, Bitcoin ATM operator BCash has strategically placed ATMs in Greece by looking at popular destinations among tourists.

additional, United State It also accounts for the largest number of crypto ATMs installed, with over 87% of ATMs in the world. After seeing steady growth for nearly six years, it took cryptocurrency ATMs to install Meets Last month.

Crypto Winter has finally caught up with this sector of the industry. This can be seen as the total number of ATMs installed decreased by 2% during the month.

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