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Canadian Bitcoin Exchange CAVIRTEX Teases Bitcoin ATMs

Jayanand Sagar | July 29, 2014 | 11:18 am
Uncategorized

Canadian Bitcoin Exchange CAVIRTEX Teases Bitcoin ATMs

Jayanand Sagar | July 29, 2014 | 11:18 am

See update below.

Canadian bitcoin exchange CAVIRTEX took to social media on Tuesday to tease a little something our Canadian bitcoin friends might find exciting.

The company is apparently planning to deploy a small network of bitcoin ATMs in Canada. With little other information, the company posted two images on their official Twitter account.

The first image depicted a lone unit branded with the famous Canadian flag. The second, a series of units. Eight of them to be exact. Not a terrible lot more is known about the deployment of the network, thought he company did indicate that one of the units would be destined for Ottawa.

That’s no surprise, either. The machines appear to be manufactured by Ottawa-based BitAccess. The devices feature AML/KYC security measures, and also allow for two-way transactions. That means customers can either buy bitcoin with fiat, or sell their bitcoin in exchange for fiat.

CAVIRTEX BitAccess ATM Single

A number of BitAccess ATMs are already in operation around the world, and when I last caught up with BitAccess’s co-founder Abdul Haseeb Awan, he told me the machines were doing upwards of $10,000 per day in transactions.

Given the tease, we would expect more information to be surfacing soon from CAVIRTEX on this ATM network (which we’re sure you Canadians are eager about). I did reach out to the company, however, but did not receive a reply before time of publishing.

Update: I’ve just heard back from a spokesperson at CAVIRTEX who says the units will be deployed over the next month in Ottawa, Toronto, Niagara Falls, and Vancouver. The fee structure has not been announced.

More information coming soon.

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