Greece to install 1,000 bitcoin ATMs

Cubits Company Logo

Cubits Company Logo

Bitcoin service provider Cubits has partnered with bitcoin exchange BTCGreece to bring 1,000 Bitcoin ATMs to Greece to help ease the stress on the countries ongoing banking crisis,

“We are creating the ecosystem of bitcoin and blockchain solutions in the Greek market.” BTCGreece founder Thanos Marinos told CoinTelegraph. “That will include the rollout of 1,000 ATMs and solutions for the e-commerce and tourism industry. Partnering with best of breed companies in the bitcoin space will enable us to provide the Greeks with solutions that will ease the difficulties of the capital controls.”

The Greek crisis started late 2009, with ongoing issues as recently as June 30th 2015 when it was the first country to fail a loan repayment to the IMF (International Monetary Fund) where still had debts up to an estimated 323bn.

Greeks interest in bitcoin peaked in the summer of 2015 where people thought Greece would exit the euro amid the crisis, in turn this led to thousands buying bitcoin as an alternative currency with building interest in general stores requesting bitcoin ATMs, the first of which are due to be installed October 2015.

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