South Korea’s Hyosung, one of the largest ATM manufacturers in Asia, which also has its headquarters in Texas, has officially integrated Bitcoin into its international ATM models.
Importance of Hyosung’s Bitcoin integration
Since 2014 Hyosung has collaborated with leading Bitcoin service providers within the South Korean cryptocurrency industry such as the Tim Draper-backed Coinplug. For over three years Hyosung has enabled South Korean ATM users to buy and sell Bitcoin through tens of thousands of Hyosung ATMs, located at nearly every convenience store and subway station.
Through the Coinplug mobile app, Hyosung has allowed South Korean users to easily withdraw and deposit cash to sell or obtain Bitcoin, increasing the liquidity of Bitcoin for general consumers in the region.
As seen in the photograph below, the efforts of Coinplug and Hyosung to transform many of the existing bank ATMs in South Korea to Bitcoin-supporting ATMs have led to an increase in mainstream adoption of Bitcoin.
ATM