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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.

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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.

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