Uruguay Installs First Bitcoin ATM! 11th country in South America to adopt cryptocurrency citizens

Uruguay has installed its first Bitcoin ATM in Punta del Este, Uruguay's main tourist attraction. Punta del Este is the so-called Miami of South America. The city is located next to the beautiful beaches and has many beautiful places and resorts. There are also casinos compared to Vegas.

According to the Cointelegraph, Uruguay's Bitcoin ATM was developed and implemented in partnership with two regional crypto companies, URUBit and Bierto, making Uruguay the 11th country in South America to open support for cryptocurrency.

Adolfo Varela, director of inBierto, said the project was 100% funded by the Uruguayan government. inBierto is a crypto investment platform and member of the Uruguayan Fintech Chamber (Cámara Uruguayade Fintech). URUBit is a decentralized token developed in Uruguay and distributed on Binance Smart Chain (BSC).

Before Uruguay took on Bitcoin, there were a total of 79 Bitcoin ATMs in South America, representing 0.2% of the global setup.

According to CoinATMRadar, Colombia leads the South American market with 31 crypto ATM setups to date, with Brazil and Argentina having 22 and 11 installed respectively, Ecuador, Venezuela, Aruba, and St. Petersburg. Saint Kitts and Nevis and other Latin American countries have implemented crypto ATMs. . .

Crypto ATMs in Uruguay currently support the output of 5 cryptocurrencies, including Bitcoin, Binance Coins (BNB), BUSD, Perret Token (FRT), and Urubit (URUB). FRT and URUB are cryptocurrencies provided by URUBit and inBierto, respectively.

In 2021, Uruguayan Senator Juan Sartori announced a cryptocurrency bill that would include restrictions on cryptocurrency exchanges and miners. He believes that cryptocurrencies are about creating investments and operations, regulating cryptocurrencies, and forcing businesses to accept crypto payments.