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It reportedly saw the installation of around 20,000 additional ATMs worldwide , and the trend is expected to continue growing, according to recent research.

The ATM sector, much like the larger crypto-industry, is dominated by the leading digital asset Bitcoin , as it accounted for over 30% of the total revenue collected by ATMs in 2021.

Interestingly, the report found that the increase in demand for BTC ATMs was driven by “the growing acceptance of Bitcoin as a payment method worldwide.” Indeed, several large-scale retailers have embraced Bitcoin or other cryptocurrencies as a payment method in the recent past, including the likes of Walmart and AMC Cinemas.

The country installed over 200 crypto-ATMs after accepting Bitcoin as a legal tender last year.

This is the most recent addition to Latin America’s growing crypto-ecosystem, as the region represents only 0.2% of global BTC ATM installations.