German Electronics Retail Giant Starts Installing Bitcoin ATMs

JAKARTA – The leading electronics retail company in Germany, MediaMarktSaturn Group announced on June 1 yesterday that it was starting to install crypto ATMs in three cities in Germany. The installation of the crypto ATM is still in the pilot stage.

Crypto ATMs will be installed in three Saturn electronics stores located in Cologne, Dortmund and Frankfurt as a pilot over a six month period. Now Saturn customers can buy cryptocurrencies including Bitcoin and Ethereum through the ATM.

MediaMarktSaturn teamed up with crypto ATM manufacturer Kurant. With these efforts, Saturn has become a crypto-friendly electronics company. Apart from that, the company is also seeing a growing demand for crypto among its customers.

As reported by U.Today, Kurant is a European market leader based in Austria for the distribution of crypto ATMs. Kurant has installed more than 200 crypto ATMs across Europe, including Germany, Spain and Greece.

In Austria, they have been working with MediaMarkt since 2019. In April 2022, the company placed its crypto ATMs in twelve MediaMarktSaturn Austrian stores.

Apart from Kurant, another party participating in the project is a private bank located in Hamburg, Sutor Bank. The collaboration with Sutor Bank is aimed at ensuring that trading through crypto ATMs is carried out in accordance with applicable regulations.

Although it is only in the pilot stage, MediaMarktSaturn itself stated that it will continue to evaluate and develop related services to expand its customers.