Action Point, an Argentine startup, creates a white label solution to integrate cryptocurrency into conventional ATMs. Argentinian startup Action Point has developed a white label solution that allows banks to offer crypto services through existing ATM infrastructure. The company offers this service in partnership with Lirium AG, a cryptocurrency-as-a-service company, and has already implemented the solution in more than a dozen ATMs in the country. Argentinian startup Action Point transfers cryptocurrencies to fiat machines. Latin America has been a hotbed of cryptocurrency adoption, and banks in Brazil and Argentina are now adding crypto services to their platforms. Argentinian startup Action Point is bucking this trend by providing middleware technology to help banks achieve this goal. The company created a white-collar solution for banks to add cryptographic services to their existing ATM networks.
The proposal aims to develop a digital currency ATM platform in the country, which is still in the development phase. According to Coin ATM Radar, there are only 13 crypto-enabled ATMs in Argentina, most of which are located in the country’s capital, Buenos Aires. In other countries, ATMs with digital currency are very popular. Colombia experienced an explosion of digital currency ATMs last year, with 50 currently operating in the country. El Salvador is the country with the most extensive network of crypto ATMs in LADAM with 212 units. This explosion of digital currency ATMs is part of the launch of state-owned cryptocurrency wallet Chivo Wallet, following the recognition of bitcoin as legal tender in the country last year. Other ATM cryptocurrencies are also interested in joining Latamo, as Spain’s Bitbase prepares to launch operations in Venezuela this year.