As per the announcement, Cardenas Markets will install a Bitcoin ATM to all of its stores in Arizona, Nevada, and California. The first ATM will be installed in Las Vegas for testing and troubleshooting. Customers will now be able to buy and sell Bitcoin and 40 other cryptocurrencies with cash.
The top Hispanic grocery store is able to provide these services thanks to a new partnership with Coin Cloud, a crypto ATMs and Digital Currency Machine (DCM) provider. Chris McAlary, CEO of Coin Cloud, stated in the company’s press release his optimism for the recent development:
Recognized as one of the largest grocery chains in the country serving the Hispanic community, Cardenas Markets’ stores now offer the capabilities to buy and sell digital currencies with cash. It’s beginning right here in our home of Las Vegas.
Prabash Coswatte, Chief Operating Officer of Cardenas Markets, stated that thanks to this unique offering, the supermarket chain can still deliver on its commitment to meet the evolving needs of their customers, especially in the digital era.
A recent survey by Morning Consult shows that the Hispanic community in the U.S. has some of the highest Bitcoin and cryptocurrency adoption rates in the country. Adoption rates for Hispanic U.S. adults far exceeds the rate of the general adult population.
The survey also reveals that Hispanic Americans tend to use Bitcoin and cryptocurrencies as a means of payment. In contrast, the general U.S. population treats Bitcoin and cryptocurrencies as investments or as a savings mechanism.
Support from Latin American communities is in line with many Central and South American countries due to favorable legislation and infrastructure currently being built for Bitcoin and cryptocurrencies.