4000 ATMs Bitcoin Enabled Through Chip Chap

Chip Chap began as an informal startup incubator with a socio economic angle. Called Entropy Factory, and located in the spanish village of Les Coves de Vinromá, the incubator has been home to numerous projects and startups. Chip Chap, which was founded by Spanish entrepreneurs, Lluis Santos and Vicent Nos, aims to become the number one way people around the world engage with digital currencies.

“A system of global exchange for all at a fair price”
— – chip-chap.com

Bitcoin’s use in Poland has been unexpected, but steadily growing. The countries first bitcoin ATM was installed in June of 2014, and there were plans for many more. However, those plans appear to have fallen by the way side. According to CoinATMRadar.com, the country only has 5, of a proposed 30, bitcoin specific ATMs. The integration of digital currencies with four thousand existing ATMs has greatly enhanced Poland’s access to Bitcoin.

Despite previously having a lack of bitcoin ATMs, the country has not been asleep when it comes to Bitcoin. In February T-Mobile Poland partnered with bitcoin payment processor InPay, to test bitcoin payments for mobile top ups. They also offered a 20% discount for those who paid in bitcoin.

In October last year a private hospital, run by the Medicover Group, announced it would let patients settle their bills in bitcoin. The hospital’s largest facility, in Poland’s capital Warsaw, treats over 8,000 patients from more than 20 countries every year. True to their word, Medicover Hospital now claims to be “the first hospital in Europe to accept Bitcoin for payments of hospitalization, treatments and executive health screening packages”

The country is also home to banking partners for several European bitcoin exchanges and companies. One of the biggest challenges faced by bitcoin companies is to find a banking partner, but exchanges like England-based Coinfloor have found banking allies in Poland.

A Global ATM Network

Chip Chap’s service will allow users to sell their  digital currencies, bitcoin or other, and then access funds through existing fiat ATM. For Poland, the service will be provided through the Halcash ATM network. After selling digital currencies, or e-money, through the Chip Chap app the user is sent a text message with a one-time passcode. After inputting this passcode into a Halcash ATM, the users funds can then be withdrawn. A map is provided with the app so that users can locate the nearest Halcash ATM.

The service was originally launched for use with over 40,000 ATMs in Spain, but has since expanded to several countries. The service claims to work in England, Mexico, France, Spain and Poland. The company works with several different ATM partners, including Banco Popular, Halcash, Cajamar, Euronet and Bankia.