Olliv, one of the world’s largest cryptocurrency kiosk operators, is launching a network of cryptocurrency ATMs across New Zealand. Since late last month, 10 ATMs have already been established.

The company’s Australian director, Matt Pook, believes New Zealand is an ideal market for their service due to the limited availability of cryptocurrency here. This view is supported by recent figures from Inland Revenue revealing that one in 10 Kiwis hold crypto currency.

However, previous attempts by New Zealand-based companies to launch crypto ATMs have not been successful. University of Auckland associate professor of commercial law Alex Sims claims it’s difficult for businesses using digital assets to get and keep a bank account, making it hard to do business. He sees Olliv’s overseas presence as giving them an “unfair advantage” over other local companies, yet believes the government should provide more support to homegrown businesses.

Pook assures customers that Olliv is secure, using the same automated systems as the big banks and credit card companies to monitor transactions. The company’s goal is to make cryptocurrency accessible, with plans to establish up to 100 ATMs across New Zealand.