Bitcoin Depot Enters Hong Kong As Part Of Asian Expansion 2025

The largest Bitcoin ATM operator in North America is expanding to Hong Kong, citing growing global demand for cash-to-crypto access.

Bitcoin Depot (Nasdaq: BTM), the largest Bitcoin ATM operator in North America, is entering the Asian market with a new launch in Hong Kong, marking the company’s first international expansion into the region.

According to an announcement on Wednesday, the expansion reflects a strategy to reach markets with strong demand for easy cash-to-crypto conversion. Bitcoin Depot aims to be among the top five Bitcoin ATM operators in Hong Kong, it said.

“Hong Kong is quickly becoming a global center for crypto, with the right mix of regulation, demand, and momentum,” said Scott Buchana, Bitcoin Depot’s president and chief operating officer.

Bitcoin ATMs in Hong Kong must obtain a Money Service Operator license from the Customs and Excise Department to legally facilitate cash-to-crypto transactions.

According to data from Coin ATM Radar, there are 223 Bitcoin ATMs operating in the city.

A company spokesperson also told Cointelegraph that its “compliance team worked closely with local partners to ensure our Hong Kong operations meet all applicable requirements, including licensing, AML, and KYC standards.”

Hong Kong continues to emerge as a regional hub for digital asset innovation, as its regulatory framework for digital assets sets it apart from mainland China.

In November, Franklin Templeton launched a tokenized US dollar money market fund for Hong Kong’s professional investors, marking the city’s first fully onchain fund that integrates issuance, distribution and servicing.

Related: Romania's postal service installs first Bitcoin ATM

Source: CoinTelegraph