Bitcoin ‘vending machines’ arrive in Isle of Man

QwikBit website

QwikBit website

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New ‘vending machines’ for digital currency Bitcoin could be appearing in the Isle of Man after a local company received its first shipment of the units.

The countertop machines, operated by Manx-registered firm Qwikbit, will allow users of digital currencies to make on-the-spot exchanges of cash for Bitcoins.

Stan Ho, chief operating officer of QwikBit, said: ‘Qwikbit has been liaising with the Financial Supervision Commission regarding our launch. Once we have the green light, we’ll install a number of automatic vending machines in the Isle of Man, and then roll out the rest of this batch in the UK,’

Charlie Woolnough, chairman of the Manx Digital Currency Association, said: ‘The arrival of the Qwikbit automatic vending machines is another step forward in making Bitcoin more accessible to the general public and establishing the Isle of Man as a domicile of choice for crypto-currency businesses.’

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