Uruguay installs its first Bitcoin ATM

Uruguay’s first crypto ATM was installed in Punta del Este. This is a popular tourist attraction.
According to reports, Uruguay has installed its first Bitcoin ATM (BTC). This makes it the 11th South American country that has publicly encouraged crypto adoption. Prior to Uruguay’s involvement, South America hosted 79 ATMs, which represented 0.2% of global BTC ATM installations.According to Ambito, Uruguay’s first crypto ATM was installed in the coastal city of Punta del Este, a major tourist attraction in the region. In partnership with two local crypto companies, URUBit (BUSD), and inBierto, Uruguay’s first Bitcoin ATM was created and installed. The crypto ATM in Uruguay supports withdrawals and deposits of five cryptocurrencies: BTC, Binance Coin, BNB, Binance USD (BUSD), Ferret Token, FRT, Urubit (URUB), and Binance Coin (BNB). FRT and URUB, respectively, are in-house cryptocurrencies that are managed and distributed by URUBit or inBierto. Adolfo Varela is the CEO of inBierto. He confirmed that the initiative was 100% funded from the Uruguayan government. InBierto is a crypto-investment platform. It is also a member of Uruguayan Chamber of Fintech (Camara Uruguaya de Fintech), which is a startup accelerator focusing on the fintech sector. URUBit is a crypto token that was created in Uruguay and is now being used in the Binance Smart Chain. Cointelegraph has not received a response from inBierto to our request for comment. He suggested that instead, he present a bill to allow legal, safe and legal use of crypto in businesses.

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