UK native stablecoin integrates into 18,000 ATMs nationwide
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A partnership between Poundtoken and BitcoinPoint will make the country’s first 100% backed GBP stablecoin ($GBPT) accessible to retail consumers via a network of 18,000 ATMs across the United Kingdom. The move marks another step towards the U.K. becoming a “crypto hub” and is in line with the government’s push to use stablecoins for wholesale settlements.
Bitcoin Point is a
In the U.K., Marzouk told Cointelegraph that cashing out via an ATM offramp using Bitcoin Point remains low, at less than 5%, and it is unlikely that there will be a dramatic uptick in numbers of users taking advantage of GBPT to hold physical cash. However, he is “quite confident about the onramp [into crypto].”
“We see Bitcoiners opting out from the banking system and becoming bitcoin only; you could also have people who don’t want to have a bank account and could therefore use GBPT. So when they need cash they can offramp into GBPT to get cash.”
The move could allow more and more crypto enthusiasts to participate without a bank. The integration is now live across the United Kingdom’s 18,000 ATMs.
