Oklahoma Gets First Bitcoin ATM As Coinsource Targets Underbanked

Oklahoma is set to receive its first ever Bitcoin ATM as Coinsource installs its 121st machine in the capital Oklahoma City.

The Sooner State, which ranks among the bottom areas of the US in terms of median household income, will benefit residents struggling with extant forms of financial support, the company said in a press release.

Although the only machine available for the time being, the BTM will provide an “alternative form of value and way to pay for goods and services,” the release explains, “particularly for those that have difficulty gaining support from a bank or financial institution.”

“Coinsource will always find ways to service the underbanked and unbanked; it's a major part of our business culture, our beliefs, and why we started the company in the first place,” CEO Sheffield Clark said continuing the sentiment.

“It gives us a deep sense of personal pride knowing we can provide a valuable service to people in the lower income bracket, and let them invest in an industry on the rise.”

The move came about in response to “repeated resident requests.”

The US easily remains the largest market for Bitcoin ATMs globally, with over 900 listed operational according to discovery resource CoinATMRadar. Worldwide, just under 1,400 machines are in existence.

This could yet change this year in a dramatic fashion, if plans signaled to Cointelegraph by UK-based BTM operator Bitlish, comes to fruition.

Speaking about recent installations in Russia, the company said it intended to roll out an astonishing 5,000 machines in Europe by the end of 2017 via franchise.