Banco24Horas and Capitual Process Over BRL 3 Million in Cryptocurrency Withdrawals

Banco24Horas, together with Capitual, processed more than BRL 3 million in cryptocurrency withdrawals by Brazilians. This promising partnership will allow cash customers to convert balances from digital currencies such as Bitcoin to Real.

In recent years, the cryptocurrency market has caught the attention of many Brazilians, who continue to trade in these brokers. Since money becomes digital currency through purchases with fiat currency (e.g. the Real), many traders also try to do the opposite.

And usually money only circulates in a digital environment, even though Brazilian currency exists in cash. According to CoinATMRadar, Brazil currently has 21 dedicated ATMs for withdrawals in cryptocurrencies.

But Banco24Horas has installed 24,000 ATMs in the country, showing a promising scenario.

Banco24Horas and Capitual Process Withdrawals of BRL 3 Million in Cryptocurrencies

In recent years, the use of ATMs for Bitcoin withdrawals has drawn attention to the ability to cash-convert the digital currency into a national currency. This facilitates the mediation for people who nevertheless want to use fiat notes on a particular occasion.

And in Brazil, TecBan is one of the main companies providing ATMs, with its network of Bancos24Horas, present at strategic points to serve customers of various financial institutions.

And with its HubDigital service, its partnerships with crypto banks expanded, with Capitual arriving first in this ecosystem. To withdraw money, the bank customer just needs to go to a Banco24Horas and a QR code with their mobile phone.

For Luiz Fernando R. Lopes, Manager Digital Platforms at TecBan, there is a wealth of cryptocurrencies around the world, which are connected to physical money.

“A wealth of cryptocurrencies is being built around the world and we are able to connect the physical and the digital, enabling crypto banks or all-digital institutions to convert a digital asset into cash, in the hands of the customer, and enable a hybrid experience or even different transactions in our ATM, which is present in the daily life of Brazilians and is a point of relationship between institutions and the Brazilian population”.

“Brazil Becomes One Of The Largest Countries With Cryptocurrency ATMs”

Currently, according to information from CoinATMRadar established by the live coins, there are only 76 countries with the presence of ATMs on their territory. The United States is the most important in the industry, with 32,311 machines of the 36,291 present worldwide.

But with the presence of TecBan to support crypto banks, Gustavo Rezende, COO of Capitual, believes Brazil has become one of the largest countries with cryptocurrency ATMs.

†Banco24Horas’ 24,000 ATMs elevate Brazil to the status of one of the countries with the most ATMs in the world allowing the withdrawal of crypto assets converted into local currency. In order for the popularization of cryptocurrencies to grow even more, it is necessary that they begin to leave the exclusive investment universe and become a means of payment for the economy. With this vision, we emphasize the importance of the partnership between Capitual and TecBan, as it allows our users to withdraw their investments in shopping malls, on the street, in convenience stores to make regular payments†

It’s worth remembering that TecBan and Capitual are also working together to make the digital Real viable in Brazil, which is another future support that companies will give to the digital currency.