The biggest Hispanic supermarket chain in the country, Cardenas Markets, is anticipated to have ATMs that may be used to buy and sell cryptocurrency.
Crypto ATM usage is rising.
One of the biggest Hispanic supermarket chains in the nation, Cardenas Markets, has partnered with Coin Cloud, a major provider of bitcoin vending machines and digital currency (MMC) devices.
Cardenas Markets clients will have access to Coin Cloud DCMs to buy and sell bitcoin, Ethereum, and more than 40 other digital currencies with cash. The company operates 59 locations across three states, including California, Arizona, and Nevada.
- “ Providing the most authentic offers and the freshest products, Cardenas Markets stores now offer the capabilities to buy and sell digital currencies with cash starting right here at home in Las Vegas ” , said Chris McAlary, CEO of Coin Cloud. “ Recognized as one of the nation’s largest grocery chains serving the Hispanic community, we are excited to provide digital currencies to their customers, including myself as a loyal Cardenas buyer .”
This choice was made in part because of a recent survey that revealed the Hispanic community in the US has a keen interest in cryptocurrencies and is one of the groups that has embraced this technology the most. We learn that the unbanked, or 11% of the Hispanic community, are more likely to be interested in cryptocurrency payments from the Federal Reserve report that reveals that 12% of American adults possess cryptocurrencies.
- “ We are pleased to offer cryptocurrency capabilities to our clients through Coin Cloud’s DCM network ,” said Prabash Coswatte, COO of Cardenas Markets. ” Through this unique offering, we continue to deliver on our commitment to meet the evolving needs of our customers, especially in today’s digital world ,” added Coswatte.
Hispanics are using cryptocurrency at an increasing rate.
The fact that cryptocurrencies are flourishing throughout Latin America, particularly in nations like Argentina and Mexico where inflation is higher than in the United States, may also be a factor in the success of cryptocurrencies among Hispanic communities. A bitcoin vending machine is also available in the Mexican senate.
It might encourage Hispanic Americans who wish to give money to those nations or who are simply moved by enthusiasm to use it. Remittances are, in fact, a crucial topic for those with South American ancestry; the president of El Salvador stated that his countrymen might save more than $400 million by using bitcoin instead of paid services.
The inflation or even hyperinflation that several Latin American countries are experiencing is another factor in the popularity of cryptocurrencies, especially stablecoins. When national currencies, like those of Argentina or Venezuela, decline exponentially, Bitcoin or USDT turn into safe havens.
