Stargroup and DigitalX sign JV to develop Bitcoin ATMs

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ASX Release
4 September 2017
Stargroup and DigitalX sign Joint Venture to develop Bitcoin ATMs

Stargroup Limited (“Stargroup”, ASX:STL) is pleased to announce it has signed a joint venture agreement with DigitalX Limited (“DigitalX”, ASX:DCC) to jointly tailor and offer a “Two-Way ATM” solution for buying and selling Bitcoin.

DigitalX is a Blockchain technology and advisory Company providing services to enable the launch of new financial products. DigitalX has leveraged Blockchain technology and the secure ledger system to create patent pending technology.

The joint venture agreement is for the entire global network of Stargroup ATM’s with the initial roadmap to focus on Australia. At present, there are less than 20 ATMs in Australia that can facilitate a Bitcoin
transaction and conversion fees are in the range of 4% to 8% of the transaction value. The vast majority of these ATM’s are only “One-Way ATM’s”; meaning users can only acquire Bitcoin and add it to their Bitcoin wallet via the ATM.

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This might be worth jumping on.