The increasing demand for bitcoin and users is kept on growing in Japan. The ATM manufacturing company Oki has decided to enter bitcoin business and launch their first bitcoin ATM this month in Japan.
The Oki Electric Industry Co. Ltd based in Tokyo established in 1881. Since then the company had developed many machines such as ATMs, ticket reservation equipment, automated check-in machines and was the first company to develop cash recycling ATM in 1982.
According to the local publication Nikkei Asian the company stated:
“It [the BTM] lets users link their online bitcoin wallets to the machine in order to withdraw funds based on the virtual currency’s market price, as well as deposit physical cash into their digital stashes.”-bitcoin.com
The company will be launching Bitcoin ATMs this month and the customer can withdraw the fiat currency from the Recycler G8 from bitcoin wallet. Whereas the function installed in ATMs are still to be disclosed by the company. As company believes that the feature integrated into ATM depends on the country and the local bank it is located.
The company has not opened regarding the name of the countries Bitcoin ATMs will be installed. As per the sources, Oki is planning to launch their new machines in China. While the Oki 600 RG7 units were installed in the largest bank of the country, the State Bank of India in June 2015