The first vending machines for the increasingly popular cryptocurrency, Bitcoin, has appeared in Malaysia. Singapore-based Numoni Pte Ltd has installed two Auto Vending Machines (AVM) in Bangsar Shopping Centre in Kuala Lumpur and Gurney Plaza in Penang last weekend.
The new AVMs were installed after Numoni announced the Bitcoin AVM in Spain last month. The company also installed four AVMs in its native island state. Interestingly, the company is looking to install another eight AVMs for a total of ten Bitcoin AVMs this year, and a total of 100 over the next three years.
“Numoni is especially pleased to launch our machines in Malaysia as the machines are assembled in Malaysia in our Senai factory. The machine was fully developed by Numoni in Singapore since 2012,” said Numoni CEO Norma Sit.
These Bitcoin AVMs work by reading a Bitcoin owner’s unique QR code, and accepts 22 physical currencies to purchase the cryptocurrency. These AVMs are also fully secured with banking security. The AVM will show the current exchange price of Bitcoins in real-time, and then forwards the user’s purchase request to the Bitcoin Exchange. Numoni states that the transaction can be completed within one minute. The Bitcoins are then dispensed as vouchers, presumably to circumvent the Bank Negara Malaysia statement in January that Bitcoins are not recognized as legal tender in the country.
The installations of the new Bitcoin AVMs come the weekend before the commencement of the World Bitcoin Conference that is happening this week.
(Featured Image: The Star)