Tuesday, May 26, 2015Tuesday, May 26, 2015

Bitcoin ATMs open in Singapore

One is in a Boat Quay bar, the other is in Citylink Mall

Published on Feb 28, 2014 8:22 AM
The bitcoin ATM at Citylink Mall is owned by Singapore company Bitcoin Exchange. The company plans to launch more bitcoin ATMs in the region. -- PHOTO: BITCOIN EXCHANGE

Singapore is now home to two of Asia's first bitcoin ATMs, which will allow users to feed in Singapore dollars and buy the virtual currency.

One made-in-Singapore ATM was launched yesterday at a bar called The Spiffy Dapper in Boat Quay, while another, imported from the British Virgin Islands, will be launched today at Citylink Mall.

The machines aim to make it easier for bitcoin buyers here, who up to now have had to wire money to a foreign exchange to buy bitcoins and wait at least a day for the transaction to be completed.

The Singapore ATMs are believed to be among the world's first in operation for bitcoins, following similar machines in Canada and the United States. Many more ATMs are planned this year, including in Japan, Hong Kong, Australia and London.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!