Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Bitcoin Depot Expands Into Hong Kong, Marking Major Step in Asian Market

Bitcoin Depot Expands Into Hong Kong, Marking Major Step in Asian Market

CryptonewslandCryptonewsland2025/11/13 14:00
By:by Wesley Munene
  • Bitcoin Depot enters Hong Kong, its first Asian market, targeting a top-five spot in local Bitcoin ATM operations.
  • Hong Kong’s favorable crypto regulations and clear guidelines attract international firms like Bitcoin Depot.
  • Bitcoin Depot’s expansion aligns with growing global Bitcoin ATM networks.

Bitcoin Depot , North America’s largest Bitcoin ATM operator, has officially launched in Hong Kong. The company’s move into the city marks its first venture into the Asian market, following a period of rapid growth in North America. Bitcoin Depot, listed on Nasdaq under the ticker BTM, is positioning itself to become one of Hong Kong’s top five Bitcoin ATM operators. This expansion comes as the city continues to see growing demand for accessible cryptocurrency services.

Hong Kong’s Growing Crypto Market

The move by Bitcoin Depot to expand into Hong Kong is in line with the region’s growing acceptance of cryptocurrencies. The city has created a friendly regulatory atmosphere that sets it apart from mainland China’s banning of digital assets. As a result of Hong Kong’s pro-crypto policy, it has become a sought-after destination for global companies that are planning to diversify their markets in Asia.

Bitcoin Depot’s President and COO, Scott Buchana, emphasized Hong Kong’s regulatory framework that offers more precise instructions for the digital currency industry as one of the major reasons for the company’s operations in the city.  The installation of Bitcoin ATMs in Hong Kong is subject to the requirement of securing a Money Service Operator license from the local Customs and Excise Department. This certification is a guarantee of adherence to the rules that control the swap of cash for crypto. 

According to the most recent statistics, the number of Bitcoin ATMs in the city reaches 223. The authorities in Hong Kong are perceived as more predictable and supportive in their regulations when compared to other countries in the region. The absence of ambiguity in regulations is a major factor that contributes to the attraction of crypto-related businesses, including the Bitcoin ATM operators like Bitcoin Depot.

Bitcoin ATM Expansion Worldwide

Bitcoin ATMs are machines that facilitate the exchanging of digital currency with cash or bank cards in the presence of the user. The number of machines worldwide that offer this service to customers has increased by 177% since 2021, and this trend can be considered the growth of a global network of Bitcoin ATMs. Presently, the total number of Bitcoin ATMs installed globally is 39,469, and the US is the undisputed leader with 30,869 machines. Canada is second in the ranking, and Australia has also seen a large increase, with its number going up from 21 to 2,019 in a very short period.

The introduction of Bitcoin Depot in Hong Kong is just one step of the company’s plans to expand internationally. It is a part of the company’s strategy to invest in markets where the use of cryptocurrency is increasing. Even though Bitcoin ATM installations have been growing rapidly, the industry still faces regulatory scrutiny, especially in the US. According to the FBI, there were almost 11,000 cases of fraud reported that involved crypto ATM machines throughout the year 2024, and the total losses were more than $246 million.
Bans on Bitcoin ATMs have been issued by some cities, while others are introducing strict rules to deal with the issues of fraud and money laundering in the US. Australia, too, has the issue of regulation concerning the operations of Bitcoin ATMs . In November 2025, the country’s Minister for Cybersecurity and Home Affairs clarified that while a total ban on crypto ATMs is not planned, new laws could impose restrictions if necessary.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Bolivia’s Digital Currency Bet: Navigating Volatility with Stable Solutions

- Bolivia's government permits banks to custody cryptocurrencies and offer crypto-based services, reversing a 2020 ban to combat inflation and dollar shortages. - Stablecoin transactions surged 530% in 2025, with $14.8B processed as Bolivians use USDT to hedge against boliviano depreciation (22% annual inflation). - State-owned YPFB and automakers like Toyota now accept crypto payments, while Banco Bisa launches stablecoin custody to expand financial inclusion for unbanked populations. - The policy faces c

Bitget-RWA2025/11/27 07:10
Bolivia’s Digital Currency Bet: Navigating Volatility with Stable Solutions

Switzerland's Postponement of Crypto Tax Highlights Worldwide Regulatory Stalemate

- Switzerland delays crypto tax data sharing until 2027 due to ongoing political negotiations over OECD CARF partner jurisdictions. - Revised rules require crypto providers to register and report client data by 2026, but cross-border data exchange remains inactive until 2027. - Global alignment challenges exclude major economies like the U.S., China, and Saudi Arabia from initial data-sharing agreements. - Domestic legal framework passed in 2025, but partner jurisdiction negotiations delay implementation u

Bitget-RWA2025/11/27 07:10
Switzerland's Postponement of Crypto Tax Highlights Worldwide Regulatory Stalemate

Visa and AquaNow Upgrade Payment Infrastructure through Stablecoin Integration

- Visa partners with AquaNow to expand stablecoin settlement in CEMEA via USDC , aiming to cut costs and settlement times. - The initiative builds on a $2.5B annualized pilot program, leveraging stablecoins to modernize payment infrastructure. - Visa's multicoin strategy aligns with industry trends, as regulators and competitors like Mastercard also explore stablecoin integration. - Regulatory progress in Canada and risks like volatility highlight evolving opportunities and challenges in digital asset adop

Bitget-RWA2025/11/27 07:10
Visa and AquaNow Upgrade Payment Infrastructure through Stablecoin Integration

Bitcoin Updates: Large Holder Liquidations and Retail Investor Anxiety Lead to a Delicate Equilibrium in the Crypto Market

- A long-dormant crypto whale sold 200 BTC after a 3-year hibernation, intensifying market scrutiny over investor sentiment and liquidity shifts. - Bitcoin struggles above $92,000 amid weak technical indicators, mixed ETF flows ($74M inflow for BTC vs. $37M ETH outflow), and diverging institutional/retail behaviors. - Whale activity highlights fragile market balance: large holders accumulate BTC while retail investors liquidate, with over $557M in BTC moved from Coinbase to unknown wallets. - Technical bea

Bitget-RWA2025/11/27 07:10