New Bitcoin ATMs in Japan to be released this month Japanese ATM manufacturer Oki enters Bitcoin ATM industry

Golden Finance News - As more and more merchants in Japan accept Bitcoin payments, some companies have begun to incorporate Bitcoin into their business models in different ways.

Currently, Oki Electric Industry Co Ltd (Oki), a leading Japanese printer, information communication and ATM manufacturer, has entered the Bitcoin ATM industry. Their first line of Bitcoin ATMs will be released this month.

(Oki is Japan's leading printer, information communications and ATM manufacturer. Image source: Golden Finance)

Leading ATM Manufacturers

Founded in 1881, Oki manufactures and sells products, technologies, software and solutions for telecommunications systems and information systems. In addition, Oki also provides ATMs, cash handling equipment and other products for the retail and service industries.

The company first developed the world's first cash-recycling ATM in 1982, and currently about 30% of the world's ATMs are cash-recycling machines produced by Oki. The company's latest cash-recycling machine will be a Bitcoin ATM.

(ATMs produced by Oki are all over the world. Image source: Golden Finance)

Oki Launches Bitcoin ATM

According to the Nikkei Asian Review, the company’s next-generation ATM will be launched this month and it will be a Bitcoin ATM.

The Recycler G8 (RG8) Bitcoin ATM will allow customers to exchange Bitcoin from their Bitcoin wallets for local currency and charge them a fee. Nikkei Asian Review describes:

“Bitcoin ATMs allow users to link their online Bitcoin wallets to the machine in order to withdraw funds based on the market’s Bitcoin price and deposit physical cash into a digital vault.”

The RG8 Bitcoin ATM will also have other features, such as settling payments via invoices sent via smartphones. The Bitcoin ATM’s features will depend on the country where it is located and the services provided by local banks.

Initially, Oki aims to launch new machines in China and other emerging countries. Japan's Nikkei Asian Review wrote: "Oki has no plans to deploy Bitcoin ATMs in Japan because demand for Bitcoin among Japanese financial institutions is relatively calm."

The company has not yet announced where the bitcoin ATMs will be installed.