Considering its fast pace of crypto ATM installations, Australia is set to overtake Asia as well.
Australia sprung a surprise in the crypto space as it overtook El Salvador to become the fourth biggest crypto ATM hub in the world. The first country to legalize Bitcoin, El Salvador has been a huge proponent of crypto for a few years. Unfortunately, it was pushed down from the fourth spot as Australia stepped up to 216 ATMs at the onset of 2023.
El Salvador’s journey with crypto included President Bukele deciding to establish over 200 ATMs in the country. It was locked in a battle with other countries in terms of the country with the highest number of crypto ATMs. It was behind the United States and Canada for some time in September 2021, but Spain and Australia crossed El Salvador’s tally in 2022. Spain sealed itself in the third position in October 2022 and currently has 226 ATMs for crypto. Eventually, El Salvador was also replaced by Australia in the fourth position.
Representing 0.6% of global crypto ATMs, Australia had 219 ATMs on January 1, 2023. It is set to cross even Asia’s total number of ATMs at the present rate. In other news, Nigeria has limited ATM cash withdrawals to $225 a week due to the release of a central bank digital currency named eNaira.