CoinFlip announces listing of AAVE tokens on its ATMs

Karthik Subramanian

CoinFlip, one of the largest Bitcoin ATM networks, has announced that AAVE tokens would now be available on its network of ATMs which number more than 2500 at this time.

coinflip

This is further proof of the growing popularity of crypto and it is expected that more cryptos would be added to the ATMs in the future as well. AAVE is one of the biggest projects in the DeFi space and it sits on the Ethereum blockchain. Users will now be able to purchase these tokens which are a part of the governance of the project.

Once the users buy the AAVE tokens, they would be able to take part in the protocol’s governance and these tokens would also be useful to reduce fees when they use the protocol.

“The burdens of the financial system go beyond equitable access to checking and savings accounts or even physical banking and ATM locations; access to financial tools such as loans impact unbanked and underbanked individuals’ ability to fully participate in the economy,” said Ben Weiss, CEO, and Co-Founder of CoinFlip. “The idea that our customers can now invest early in one of the largest decentralized projects on the market is a major step forward in our mission to make cryptocurrency more accessible to people everywhere.”

CoinFlip has rapidly grown in line with the growth in the crypto ecosystem and being one of the very few providers of Bitcoin ATMs, it has been able to triple its count of such ATMs within a short period of time and remains one of the fastest-growing companies in the Chicago area. The fact that it has been able to expand in the US where the regulations over crypto are much more strict than in many other countries shows the potential and the interest in the crypto industry.

With the addition of AAVE, the company hopes that more users would be interested to make use of the ATMs and this would increase user uptake and interest in blockchain and this could then set off a cycle where more cryptos can be added by the company to the ATMs. This segment would be keenly watched to see how the interest in such ATMs takes off and whether the offline uptake in cryptos matches the online interest and only when that happens would there be a true gauge of mainstream adoption of crypto.

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