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200 Bitcoin ATMs installed at Walmart

Back in 2019, Ripple’s Xpring funded Coinme.

Coinme, a global leader in cryptocurrency kiosks and blockchain financial services, announced that Ripple’s Xpring and the newly established Blockchain Finance Fund have made investments in the company as part of Coinme’s recently opened A-1 funding round.

Xpring is Ripple’s developer initiative that focuses its investments in companies building on and providing access to blockchain technology. This is Xpring’s first investment in the digital currency kiosk industry and is further validation of Coinme’s innovative and regulated exchange platform that powers the world’s largest digital currency kiosk network.

“We are bolstered by this vote of confidence by Ripple and Blockchain Finance Fund in our vision and the exciting opportunity to provide access to digital currencies for millions of people around the world,” said Neil Bergquist, co-founder and CEO of Coinme. “Coinme is building the infrastructure that powers the rapidly growing digital currency economy. We can now bring that infrastructure to a global audience.”

Today, we get the news that Walmart has partnered with coin-cashing machine company Coinstar and crypto-cash exchange Coinme to install 200 Bitcoin (BTC) ATMs in its stores across the United States.

Although the pilot includes only 200 kiosks, the broader launch plans to eventually see the installation of 8,000 Bitcoin ATMs across the country, according to Bloomberg. There have been no further details on timelines as of yet.

According to Coin ATM Radar, there are currently over 25,000 Bitcoin ATMs at select grocery stores and service stations in the United States. Coinstar operates 4,400 kiosks enabled for Bitcoin purchases across 33 states.

Sam Doctor, chief strategy officer and head of research at BitOoda, told Bloomberg that Bitcoin ATMs aren’t a new development and can already be found at many supermarkets:

“Walmart expands Bitcoin access to more people, though, and gives it further legitimacy among skeptics, should they roll it out beyond an initial pilot.”

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