Circle K is teaming up with Bitcoin Depot for an exclusive international partnership that places Bitcoin ATMs in stores across Canada and the U.S.
More than 700 Bitcoin ATMs are already installed in Circle K stores across 30 states, as well as several provinces, including B.C., Alberta, Ontario and New Brunswick. The Bitcoin Depot ATMs are kiosks that enable users to exchange cash for cryptocurrency, allowing for simple, in-person transactions that give users immediate access to bitcoin and over 30 other cryptocurrencies.
In a release, Circle K said it is the first major retail chain to deploy Bitcoin ATMs within its stores. It's worth noting that a handful of independent convenience and gas stores also feature Bitcoin ATMs, including Bunty's Convenience in Winnipeg and Alpha Plus Convenience in Humboldt, Sask. As demand for cryptocurrency increases, the ATMs will draw customers into the convenience stores. To use a Bitcoin ATM, users insert cash after providing his or her crypto wallet address, and crypto is sent immediately to the wallet. The whole process from signing up for an account to completing a transaction takes just a minute or two.
"We're thrilled to create a long-term, strategic partnership with Circle K and to expand our footprint internationally with a global leader in convenience and fuel retail," Bitcoin Depot CEO, Brandon Mintz, said in a release. "Circle K understands that cryptocurrency will be a growing part of the future economy and payments landscape. By adding Bitcoin ATMs to the Company's stores, Circle K can attract new customers to their stores, offer financial access to underserved communities, and set themselves apart from other retailers with this new technology. Through our collaborative partnership, we aim to provide new ways for people to buy bitcoin instantly in a familiar environment in their local neighbourhood Circle K."
Bitcoin operates more than 3,000 ATM locations and the Circle K sites are listed at bitcoindepot.com.
"At Circle K, we are passionate about making our customers' lives a little easier every day, and we are continually looking at ways to enhance their experience in our stores and be their favorite stop for a growing range of needs and occasions," said Denny Tewell, SVP global merchandise and procurement at Circle K. "Our partnership with Bitcoin Depot further builds on this commitment, giving our brand an important, early presence in the fast-growing cryptocurrency marketplace as a convenient destination where customers can buy Bitcoin."