German electronics retailer Media-Saturn installs bitcoin ATMs in its stores
MediaMarktSaturn Group announced in its press release yesterday, June 1, 2022, that from the beginning of May, crypto ATMs have started operating in three Saturn Electronics stores in Cologne, Frankfurt and Dortmund. As part of a six-month pilot project, Saturn customers can now convert fiat to BTC or ETH and then load them into their digital wallets using machines operated by an affiliate partner, Kurant. Is.
As such, Saturn seeks to provide a consumer-friendly entry into the world of crypto. According to Christian Stefan, the group’s head of innovation research, the demand for cryptocurrencies is increasing, especially among tech-savvy retail customers.
The initiative was developed in collaboration with Austria-based European market leader Kurent for the distribution of crypto ATMs. Current has installed over 200 crypto ATMs across Europe including Germany, Spain and Greece. In Austria, they have been collaborating with MediaMarkt since 2019. In April 2022, the company placed its crypto ATMs in twelve stores in the Austrian MediaMarktSaturn.
Another participant in the project is Sator Bank, a Hamburg-based private bank. Currant’s Managing Director, Stephen Grill, collaboration with Sutor Bank ensures that transactions at crypto ATMs are legally compliant, and the bank also provides support when needed, with a reliable support team.
With these results in Austria and the experiences of the ongoing pilot project in Germany, MediaMarktSaturn states that it will continuously evaluate the expansion of its activities in this service segment. There is still a lot of room for improvement as the group alone has a total of about 410 stores in Germany.