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Bitnovo Announces Roll-Out of 4000 New Bitcoin Exchange Locations in Spain

10 July 2017 21:00, UTC
This week Bitnovo has announced the launch of 4,000 new physical locations across Spain via Twitter. Thus, Bitnovo has increased the number of locations previously available in Spain by 800%, of which there had been approximately 500 prior to the rollout.

2017 has been a big year for Bitnovo. One of the important events is the launch of bitcoin Visa prepaid debit card in 130 countries. It signifies Bitnovo’s expansion beyond the Spanish cryptocurrency market and desire to establish itself as a major international brand within the bitcoin payments industry.

Company domination within the Spanish bitcoin industry has begun since its establishment in 2015 when during 6 months Bitnovo released prepaid debit cards that can be used to withdraw cash from any Mastercard ATM. Also at that time the Company announced plans for its expansion into the international bitcoin market.

Many people believe that sustained growth in bitcoin adoption is driven by instability of Spanish financial markets. The addition of 4000 bitcoin locations demonstrates the growing demand and increasing regulation of bitcoin, cryptocurrency, and blockchain technology in Spain.

Spain was among the first countries to explore an idea of national cryptocurrencies by launching Spaincoin after rollout of Icelandic Auroracoin. Although the project appears to have been inactive for several years now, Spain demonstrated readiness of its officials to become one of the first states to promote and encourage cryptocurrency development that may have positive effects on development of the local bitcoin economy.

Last week several major Spanish banks, law firms and corporations announced the creation of a blockchain consortium that would explore applications for blockchain technology in multiple sectors of Spanish economy. Holytransaction Trade was also launched in 2017 – a cryptocurrency wallet provider that facilitates bitcoin to Euro transactions at any Spanish ATM.