The first Bitcoin ATM opens up in Montreal

bitcoin

It’s spreading. Bitcoin, the cryptography currency of the future that has the internet riled up, has found another home in Montreal. Vx5 Technologies announced that the first ATM for purchasing Bitcoins is now open for business.

Fadi Azouz, President of Vx5 Technologies, is the sole owner/operator of the ATM and stated this is first of many he plans to open around the world, “Over the next year, Vx5 Technologies plans to install ATMs in more than 10 cities around the world, in countries such as Lebanon, the Philippines, Hungary and Venezuela.”

The Bitcoin ATM (BTM) is located at the Bitcoin Embassy and is reportedly “an incubator to help grow Bitcoin startups” and also acts as an educational hub with workshops and meetups. Guillaume Babin-Tremblay, Executive Director of the Bitcoin Embassy, said, “Montreal is quickly becoming an internationally renowned Bitcoin hub.”

Other Bitcoin ATMs have opened up in Canada, specifically in Vancouver, Toronto and Ottawa. While this kind of currency is new, the Canadian government doesn’t recognize it as legal tender, saying that “Only Canadian bank notes and coins are recognized as legal tender in Canada. Bitcoin digital ‘currency’ is not legal tender in Canada.”

Ian Hardy

Ian Hardy

Been quietly creating and building things for years. Completely addicted to Tim Hortons and Maple Syrup.