Canadian cryptocurrency ATM provider Instacoin is adding support for seven different stablecoins, including Tether (USDT), to its network of Bitcoin kiosks.
Instacoin says it will also add Ether-backed multi-collateral and single-collateral DAI, Circle USD Coin (USDC), Paxos Standard Token (PAX), TrueUSD (TUSD) and the Gemini dollar (GUSD).
Users can reportedly acquire up to around $10,000 CAD (approximately $7,600) worth of stablecoins, which are pegged one-to-one with the US dollar, each day, without having to go through ID verification.
Instacoin president Michael Lo Verso tells ATM Marketplace that his company is seeing strong real demand for stablecoins. Says Lo Verso,
“So we said, we’ll just try it out and be one of the first to put out these stablecoins on our ATMs. We’ll see how the market reacts to it.”
Meanwhile, Bitcoin ATM network Coinme is expanding into the Dallas-Ft. Worth metropolitan area by adding over 90 Bitcoin (BTC) purchase locations through Coinstar’s network of coin collection kiosks, located at Albertsons and Tom Thumb stores.
Coinstar kiosks allow people to buy Bitcoin by only requiring a phone number and cash.
The company says there are 3,000 Coinstar kiosk locations in the US that have integrated Bitcoin purchasing functionality.