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New Spanish Exchange Converts Bitcoin and Fiat Currencies at 7,000 ATMs

Last Updated March 4, 2021 4:53 PM
Rebecca Campbell
Last Updated March 4, 2021 4:53 PM

HolyTransaction Trade  is a new universal cryptocurrency wallet in Spain that enables bitcoin and Euro instant conversions. Within Spain’s 7,000 ATMs, a person can convert their bitcoin into fiat currencies and vice versa, helping to push the country into the digital world.

HolyTransaction has teamed up with HalCash, a global electronic platform that allows users, both banked and unbanked, to send and receive money, nationally and internationally, instantly and securely. This means that any banks linked to the HalCash network can convert bitcoin into Euros and withdraw cash from the banks ATMs.

Speaking to CCN.com, Francesco Simonetti, CEO of HolyTransaction, said:

We started working with HalCash and a local payment processor to enable the withdrawal of cash for HolyTransaction’s Spanish customers. [We] then decided to help expand HalCash’s network to more countries.

On top of Spain the HalCash network also includes Poland, bringing the total number of ATMs that can convert bitcoin and Euros up to more than 10,000.

With the use of Teleingreso, a fast and secure payment processor, an individual can purchase bitcoin through its network of over 3,000 ATMs, 2,000 post offices, and 300 retail stores.

By selecting Teleingreso as the preferred online payment method, a person will receive a unique nine-digit code, which enables a payment to be made after visiting any of the networked ATMs to make a payment.

Bitcoin on the Rise After 2008

Since the 2008 financial crisis, which saw many European economies including Spain’s fall into decline, many people started seeking alternative measures that didn’t require traditional banking methods.

Simonetti states that the rise of bitcoin in Spain has increased since then with bitcoin continuing to advance in the Spanish nation.

Since a lot of people lost their houses during the financial crisis, more people started to look into bitcoin in order to live without using a bank.

In October last year, a report from Europa Press  found that AMETIC, an information technology foundation in Spain, had announced that there was a need for the Spanish government to form a Ministry of Economy and Digital Society. It was reported that this was to help define the digital strategy for Spain.

Simonetti believes, however, that it is down to the regulated environment and the readiness of local banks to help with bitcoin services that is helping to drive the digital currency in the country.

What Next?

To use HolyTransaction a person doesn’t require a wallet on the platform and doesn’t require registering either. However, if they already have a wallet from a different wallet provider this can be used on HolyTransaction.

Customers of the exchange also have the opportunity of creating a prepaid virtual Visa card with bitcoin that enables them to buy anything they want online with most e-commerce shops accepting Visa payments.

According to Simonetti the recently launched platform has attracted thousands of customers from around the world, but he points out that they have plans to grow the company.

We plan to expand to India soon. The list of available countries will grow with Mexico, U.S., and Columbia within the year as well, making it possible to sell bitcoin within those countries.

Featured image by Shutterstock.