Recently Bitbase reported its plan of expansion within new regions by the next year. It is noteworthy that a prominent crypto ATM company already has its offices all over the world. For instance, the Spain based company has about hundred crypto ATMs within the country itself.
As per the reports, Bitbase received the fundings from two companies working with the decentralized Web 3 space. Using the recent investment it has plans to expand its reach to new regions in order to step into new markets.
The two companies involved in the funding of Bitbase are Dextools and Woonkly. The former, acquired about 22% of the company, is a company which offers a bunch of required tools in order to handle the tokens used over the decentralized exchanges. Meanwhile, Woonkly is a known decentralized exchange (dex) and an NFT marketplace platform which now owns about 5% within Bitbase after its recent investment.
Web 3 Exposure to Crypto ATM firm
Given the expertise and already established knowledge of both the decentralized Web 3 companies, Bitbase expects to go ahead with its plans towards metaverse and Web 3 following the investment.
At present the company has about 30 physical stores at different places. Its business model consists of a pattern which it follows to let users know about the procedure of transactions using crypto. This way the firm ensures to help people to get and settle within the crypto environment.
Bitbase explains in a press release about its plans to observe several countries within the European region. The observation would lead the company to better plan for expansion of business along with installing crypto ATMs and offices.
The company also mentioned their efforts seeking the regulatory permissions and licenses to operate within Italy, Germany, Netherlands and England, etc. In addition to its expansion plan within other regions, the company anticipates continued installation of ATMs in its native country Spain. It has plans to reach the target of 200 ATMs by installing more 100 of them by the end of this year.
Physical Stores Apart from Crypto ATMs and Offices
Bitbase partner and CCO, Cristian Bono stated that the company is also going to launch at least one or more stores in aforementioned European countries. The company would be replicating its own business model which has already been successful in Spain. This way the company could position itself as the biggest crypto exchange with physical stores.
Apart from its European expansion, the company is also keeping an eye on the Latin American region. It has even started entering the region when recently on 15th July, it opened an office in Paraguay. At the same time, the company also said to be looking towards opening offices in Venezuela and also looking towards expanding the workforce to employ within the region.
Source: https://www.thecoinrepublic.com/2022/10/13/bitbase-to-expand-within-europe-and-latin-america-new-offices-and-crypto-atms/