Bitbase, a Spanish cryptocurrency ATM company, plans to continue expanding its services in 2023. from Web3-based decentralized companies Dextools and Woonkly. The company, which has received investment, aims to have 200 cryptocurrency ATMs installed in Spain. Bitbase is also working on obtaining licenses to begin operations in countries such as Italy, the UK, Germany, and the Netherlands, as well as in latam countries such as Venezuela.
Bitbase receives major investment
Bitbase, a Spain-based cryptocurrency ATMcompanywith offices around the world, is now looking to expand further into new territories for the coming year. The company, which already has 100 crypto ATMs in Spain, has received investment from two decentralized web3 companies that can help it continue to grow into new markets.
Dextools, which offers a suite of tools dedicated to token processing on decentralized exchanges, acquired 22% of the company, while Woonkly, another decentralized exchange and NFT marketplace, now owns 5% of Bitbase’s shares. With this investment, Bitbase now hopes to enter the Metaverse and Web3 side as well, backed by the knowledge and structure of these two companies.
The company, which currently has 30 physical stores, helps people enter the cryptocurrency environment with a business model that explains to users how to trade crypto.
Expansion in Europe and Latam
In a press release, Bitbase reveals that it is now looking to several European countries to expand its business and set up crypto ATMs and offices. Bitbase declared that it is currently seeking licenses to expand into areas like Italy, the United Kingdom, Germany, and the Netherlands. Nevertheless, the company hopes to continue installing more ATMs in Spain and hopes to reach 200 ATMs by the end of this year, with another 100 to be installed.
Christian Bono, CCO and partner at Bitbase, said.
We also intend to open one or several stores in these European countries, replicating the business model we have done here in Spain and positioning ourselves as the largest exchange with physical stores.
The company is also interested in Latam. On July 15, Bitbase debuted its entry into the region with the opening of an office in Paraguay; in July, it opened an office in Venezuela and announced that it is in talks to scout for personnel to run a store to be opened in that country.
There is no official update on the progress Bitbase has made in these operations, but a press release stated that the Venezuelan store should be operational “soon.”
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