Crypto ATMs — or BTMs as per local terminology — are back in Japan after a lengthy four-year hiatus.
Local crypto exchange firm Gaia Co., Ltd announced on Aug. 2 that it will soon roll out BTMs that support Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC).
Despite Bitcoin ATMs having made their debut in Tokyo as early as 2014, the country has not seen any active digital asset ATMs since the crypto winter of 2018 which saw local exchange Coincheck hacked for $530 million, bringing the local sector to its knees and souring interest in crypto ATMs.
Initially, the BTMs will be installed in locations across Tokyo and Osaka, but the firm has outlined plans to set up 50 BTMs across the country within the next 12 months. The company said it hopes to increase the installed base to 130 BTMs within the next three years.
The BTMs will allow users to withdraw a max of $747 (100,000 yen) per transaction, with a max withdrawal cap of $2,243 (300,000 yen) per day. The limited...
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