Bitbase, an ATM provider in Spain, plans to continue expanding its services through 2023. Dextools and Woonkly made investments in Bitbase, two Web3-based decentralized businesses. They aim to install 200 crypto ATMs throughout Spain. Bitbase plans to apply for licenses that will allow it to start operating in Italy, England, Germany and the Netherlands as well in Latam countries such Venezuela.
Bitbase Gets Major Investments
Bitbase is a Spanish-based crypto ATM company that has offices around the globe. It plans to expand its reach to other territories next year. Two decentralized Web3 companies invested in Bitbase, which has already 100 Spanish crypto ATMs. This could allow it to continue expanding into new markets.
Dextools, a company offering a series of tools dedicated to the handling of tokens in decentralized exchanges, acquired 22% of the company, while Woonkly, another decentralized exchange, and NFT marketplace, is now the owner of 5% of Bitbase’s stock. Bitbase now hopes to invest in the metaverse, Web3 and NFT sides of the equation. This investment is backed with the know-how and structures of both companies.
The business model of the company has helped to open 30 stores in physical locations. It explains how users can transact with cryptocurrency and helps people get started in this new world.
European and Latam Expansion
Bitbase released a statement revealing that the company is looking to establish crypto ATMs in Europe and expand its operations. Bitbase stated that they are currently looking for licenses to expand into countries like the Netherlands, England, Germany and Italy. The company still plans to expand its Spanish operations, with 100 additional units planned for installation before the end. That will bring it up to 200 ATMs.
Cristian Bono (CCO, Bitbase partner) stated:
Additionally, one or more stores will be opened in these European countries. It is similar to what we did in Spain.
Latam is another option for the company. Bitbase launched its entry into Paraguay by opening a Paraguayan office on July 15. The organization announced in July it was in negotiations to open an office to Venezuela and began looking for people to run the stores.
While there have not been official updates on the progress Bitbase has made in these operations, the press release states the stores in Venezuela should be operating “soon.”
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