- In a press release published on June 1st, 2022, the MediaMarktSaturn Group revealed that the crypto ATMs have started operating in three Saturn electronics stores in Frankfurt, Dortmund, and Cologne.
- The customers of Saturns, as part of a six-month pilot project, can convert fiat into BTC or ETH and then store them in their digital wallet, leveraging the machines operated by Kurant.
- A Hamburg-based private bank, Sutor Bank, is another participant in the project.
On June 1st, 2022, the MediaMarktSaturn Group, in its press release, made the announcement that crypto ATMs have started operating in three Saturn electronics stores in Frankfurt, Cologne, and Dortmund, since the start of May.
Saturn customers will now be able to convert fiat into BTC or ETH and then store them in their digital wallet, making use of the machines operated by Kurant, one of the cooperation partners, as part of a six-month pilot project.
Saturn seeks to offer a consumer-friendly entrance into the crypto industry in this way. The group’s head of innovation research, Christian Stephan, believes that there is a rising demand for digital assets, particularly among tech-savvy retail customers.
Kurant, a European market leader for the distribution of crypto ATMs based in Austria, along with MediaMarktSaturn group, developed this project. More than 200 crypto ATMs have been installed across Europe, including Spain, Germany, and Greece, by Kurant. Since 2019, Kurant has been cooperating with MediaMarkt in Austria. The company will place its crypto ATMs in twelve Austrian MediaMarktSaturn shops in April 2022.
A Hamburg-based private bank, Sutor Bank, is another participant in the project. The cooperation of Stefan Grill, the managing director at Kurant, makes sure that the transactions at the crypto ATM are produced as per the legal jurisdiction. In addition, the bank also helps in case of need with a reliable support team.
MediaMarktSaturn believes that it won’t stop evaluating the expansion of its activities in this service segment, considering the outcomes from Austria and the experience from the current ongoing pilot project. The group alone has combined around 410 shops in Germany, leaving a lot of room for improvement.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.