Uruguay Installs Its First Bitcoin ATM
The country’s first cryptocurrency ATM was installed in the coastal city of Punta del Este. Thus, Uruguay became the 11th South American country to publicly encourage the adoption of cryptocurrency.
Prior to Uruguay’s participation, there were 79 ATMs in South America, representing 0.2% of global BTC ATM installations.
According to Ámbito, the first Bitcoin ATM in Uruguay was designed and installed in collaboration with two local crypto companies, URUBit and inBierto.
Currently, this ATM supports withdrawals and deposits of five cryptocurrencies: BTC, Binance Coin (BNB), Binance USD (BUSD), Ferret Token (FRT) and Urubit (URUB). FRT and URUB are native cryptocurrencies managed and distributed by URUBit and inBierto, respectively.
Coin ATM Radar data shows that Colombia leads the South American market with 31 cryptocurrency ATM installations to date, followed by Brazil and Argentina with 22 and 11 installations respectively.
Other South American countries such as Ecuador, Venezuela, Aruba and Saint Kitts and Nevis have also installed one crypto ATM each.