Largest shopping mall franchise in Brazil to integrate crypto ATMs into its facilities – Reuters

BR Malls, the largest shopping mall franchise in Brazil, has announced that it will install cryptocurrency ATMs at its facilities across the country. The company will partner with Coin Cloud, a US-based cryptocurrency ATM operator, which will provide the machines that will enable the buying and selling of cryptocurrency. The first of the crypto ATMs has already been installed and 15 more are awaiting installation.

BR Malls to Install Crypto ATMs in Brazil

BR Malls has announced that it will install 15 cryptocurrency ATMs at its facilities across the country. This is done in partnership with Coin Cloud, the largest two-way cryptocurrency ATM operator. The partnership will allow Coin Cloud to install these machines in eight cities across the country, including São Paulo, Rio de Janeiro, Goiás and Espírito Santo.

The first of the crypto ATMs has already been installed and the rest will be installed this weekend, according to Coin Cloud. These ATMs, unlike the others, are two-way. This means that customers can buy and sell cryptocurrencies using them.

The company announced that users will be able to purchase cryptos starting at minimum R $ 10 (~ $ 1.87). For sales, this limit drops to R $ 50 (~ $ 9.36) as a minimum. ATMs will only accept cash, but there is also an associated app that will allow users to purchase crypto with debit or credit cards. The machines offer a sufficient stock of over 30 different cryptocurrencies to buy and sell, including bitcoin, ethereum, xrp, and litecoin. The machines also offer stable coins such as tether and usd coin.

Coin Cloud’s interest in Brazil is nothing new. The company shipped 10 of its ATMs to Sao Paolo last December and is now looking to expand its presence due to the popularity of the crypto.

More ATMs to come

Coin Cloud plans to continue expanding in Brazil and aims to install 50 crypto ATMs this year. Isabela Rossa, Head of Coin Cloud in Brazil, says her main target is people who still do not have a presence in the crypto market. She said:

We manage to attract an audience that is not the famous day trade – which is already on the platform -, but people who have heard of cryptocurrencies, who are interested and are already investing in other markets, but who do not want to enter through brokers.

According to Rossa, the presence of a physical machine gives users confidence when trading and attracts people who are reluctant to buy these assets through online brokers.

What do you think about the installation of several crypto ATMs in shopping malls in Brazil? Tell us in the comments section below.

Image credits: Shutterstock, Pixabay, Wiki Commons

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Peggy P. Gilmore