Hong Kong’s bustling Bitcoin vibe is making its presence felt further afield with native Bitcoinnect unveiling its first ATM installation in Macau at the weekend.
The move marks the Kowloon-based distributor’s first functioning location, with more to follow in both Macau and Hong Kong in the future. CEO Jase Leung emphasized the huge effort needed to bring Bitcoinnect into Macau in a press release issued Friday, which stated:
“[A] series of thorough testing were conducted for months to ensure fast and stable performance of the machine and satisfactory user experience. Jase was glad to cooperate with the enthusiastic and bright entrepreneur, Mr Matthew Ventura [Ventura Investment Group LLC and Bitcoinnect operator] whom has strong local connections in Macau.”
Bitcoinnect will distribute solely the Genesis1 cryptocurrency machine built by Genesis Coin in California. The Macau location is at the Sands Macao Hotel, which Bitcoinnect describes as “one of the most spectacular and world-class hotels on the island.”
The Genesis1 ATM is designed to be both bank-grade and KYC compliant, while providing services not just for Bitcoin but also Litecoin and Dogecoin, which Bitcoinnect says will be available “depending on market demand.”
While Hong Kong is already known for its emerging cryptocurrency scene, and has two ATM locations listed on bitcoinatmmap.com, Bitcoinnect is set to increase liquidity considerably with its website stating that three more machines will be operational in Macau by early July as part of its ongoing expansion plan.
The pioneering ATM will meanwhile be showcased at the Inside Bitcoins Hong Kong conference tomorrow and Wednesday. CoinTelegraph as an official media partner of the conference will be on-hand with exclusive interviews and news – watch this space for more information coming soon.