MONTREAL, Feb. 5, 2014 /CNW Telbec/ - Fadi Azouz, President of Vx5
Technologies, is proud to announce the launch of Montreal's first ATM
for purchasing bitcoins. Azouz is the sole owner/operator of the ATM,
which is located at the Bitcoin Embassy. Machines of this kind have
quickly grown in popularity throughout the world and their debut in
Montreal further strengthens the city's position as a hub for
innovation and technological development.
Since its creation five years ago, Bitcoin's appeal has increased
tremendously. Bitcoin is a peer-to-peer payment system that uses
cryptography to secure the transfer of value, instantly managing
transactions, without the input of a third party.
This unique type of ATM offers Bitcoin enthusiasts and new users the
ability to quickly and effectively purchase bitcoins. This process
reduces the challenges often associated with purchasing bitcoins
online, which can take up to several weeks, and greatly improves
"Over the next year, Vx5 Technologies plans to install ATMs in more than
10 cities around the world, in countries such as Lebanon, the
Philippines, Hungary and Venezuela," said Fadi Azouz, who will rely on
the BTM brand, which makes use of the latest in Canadian technology, to
expand to these markets.
The Bitcoin Embassy is pleased to collaborate with Vx5 Technologies to
host Montreal's first Bitcoin ATM. The Bitcoin Embassy's offices are
spread over 14,000-square feet in the heart of downtown Montreal. The
space includes an incubator to help grow Bitcoin startups and it also
acts as an educational hub with frequent workshops and meetups.
"We are pleased to welcome the first Bitcoin ATM in Montreal," said
Guillaume Babin-Tremblay, Executive Director of the Bitcoin Embassy.
"Offering a service that makes it easier to purchase bitcoins is a
logical step forward for our organization. Montreal is quickly becoming
an internationally renowned Bitcoin hub and we have been pleasantly
surprised by all the people who have been able to benefit from our
services here at the Bitcoin Embassy."
This Bitcoin ATM is the fourth of its kind in the world and the first in
Quebec. The first, which opened in Vancouver last October, saw over $1
million in transactions during its first 30 days of service.
SOURCE: Vx5 Technologies
For further information:
Thara Tremblay-Nantel/Joanne Lépine
514-288-8290, Ext. 214/234