UK Integrates GBPT Stablecoin into 18,000 ATMs: Crypto Access for All!
• UK-native stablecoin GBPT is now accessible to retail consumers through a network of 18,000 ATMs across the UK.
• The move is in line with the UK government’s push to use stablecoins for wholesale settlements.
• The ATM integration marks another step toward the UK becoming a “crypto hub” and could democratize access to crypto for non-tech savvy people.
The United Kingdom has taken a major step forward in its push to become a “crypto hub” by integrating its first 100%-backed British pound stablecoin into the country’s ATM network. This move, which was made possible through a partnership between Poundtoken and BitcoinPoint, will enable retail consumers to access GBPT (the one-for-one British pound stablecoin) and other cryptocurrencies via a network of 18,000 ATMs across the UK.
The integration is a major milestone for the UK, as it marks another step towards establishing the country as a leader in the cryptocurrency space. It is also in line with the government’s push to use stablecoins for wholesale settlements, as it will make it easier for people to access and use cryptocurrencies.
BitcoinPoint, which is a Lightning Network-enabled Bitcoin and cryptocurrency exchange, licensed and registered in the UK, is facilitating the integration of GBPT into the ATM network. Poundtoken is the sole issuer of GBPT, and the currency is fully backed in pounds at all times, with monthly attestations provided by auditor KPMG.
The integration of GBPT into the ATM network will make it easier for people to access and use cryptocurrencies. While cryptocurrencies such as Bitcoin and Ether can already be exchanged for cash at ATMs across the UK, the addition of GBPT marks a shift towards greater accessibility for those who are unfamiliar with the technology.
Benoit Marzouk, CEO of BitcoinPoint, said that the move could democratize “access to crypto for non-tech savvy people in the United Kingdom.” He added that it is “fully in line with the government’s consideration to integrate stablecoins with the U.K. economy.”
This integration of GBPT into the UK’s ATM network is a major step forward for the UK in its goal of becoming a “crypto hub,” and it will no doubt make it easier for Brits to access and use cryptocurrencies. It also marks an important milestone in the UK government’s push to use stablecoins for wholesale settlements, and it is another example of how the UK is leading the way in the cryptocurrency space.