According to an analysis on CoinDesk, the announcement comes on the heels of a “race” to establish a Bitcoin ATM market in these major cities.
Bitcoiniacs will have competition in the ATM space in both London and Singapore. A firm called Bitcoin Exchange plans to set up a Lamassu ATM, which only performs fiat-to-bitcoin conversions, in the Southeast Asian city-state by April. An ATM in Hong Kong, also a Robocoin unit, was announced for a January installation, but no further updates about it have been published. Therefore, the Bitcoiniacs machine could beat it to become the first bitcoin ATM in Asia.
In London, three startups are vying to install the city’s first bitcoin ATM, with units from both Lamassu and Robocoin. One of the firms could have its unit installed this week, its founder told CoinDesk, although he has not confirmed the date yet.”
The company hopes their new locations will also help to promote Cointrader.net, their Bitcoin exchange. Bitcoiniacs launched their Cointrader exchange at the end of January following a slowdown of transactions on Bitstamp.