
Williston, a small community with a population of slightly over 27,000 people as of 2019, is making inroads into the $2.5 trillion cryptocurrency industry. The city has announced a collaboration with the crypto services company Coin Cloud to build a cryptocurrency ATM at its airport.
Coin Cloud has over 4000 Digital Currency Machines (DCM) installed in the United States and Brazil. It also offers users non-custodial digital wallet services to help them manage their digital assets. Customers can also use cash to buy and sell Bitcoin, Ethereum, and over 40 other digital currencies.
Anyone travelling through this Williston DCM installation would be able to execute crypto transactions from their digital wallets. Williston collaborated with Bitpay in May to allow residents to pay their utility bills with digital currency.
The ATM installation at Williston Airport would be the first government-hosted one, according to the release. It is also the first installation of a Coin Cloud in an airport.
The City of Williston’s Finance Director, Hercules Cummings, indicated that this is a means to introduce the people to cryptocurrencies. It also plays a vital part in the development of Williston’s digital environment. He went on to say that the city is “building a successful road map for the general people to embrace cryptocurrency.” It does so by accepting digital currency payments from locals and, more recently, by hosting a municipal-hosted DCM.
“Even though we are a little rural town, we are making a difference. Taking this tiny action may set a precedent for other government and private bodies to follow.”
The airport cryptocurrency ATM would be especially beneficial to the unbanked or people who do not have access to regular financial services. Travelers and non-travelers alike would be able to use cash to buy and trade over 40 cryptocurrencies. They can also withdraw funds from their digital wallets using the DCM.
The City of Williston, on the other hand, does not handle any cryptocurrency transactions. Instead, they are handled by DCM operator Coin Cloud. “The primary goal of this DCM is to bridge public curiosity to acceptance and portfolio adoption of a burgeoning asset class,” Cummings noted. He also discussed the benefits of the DCM. To begin with, using an ATM means that no transaction is directly related to the customer’s bank. According to him, there are no discernible charges.
Coin Cloud CEO Chris McAlary emphasized his delight about entering the travel industry, calling the installation “historic.” The city’s most recent step enhances its goal of encouraging locals to adopt cryptocurrency. Earlier this year, Williston began taking cryptocurrencies such as bitcoin as payment for utility bills.
Williston, according to Cummings, was the first municipality in North Dakota and the third in the United States to provide that service. Other payment alternatives, including Google Pay, Apple Pay, and pay-by-text, have also been added by the city.