The global crypto ATM market is forecast to surpass $2-billion by 2028, according to a new report from Stocklytics.

“The surge in global crypto adoption is driving the expansion of crypto ATMs,” says Edith Reads, financial analyst at Stocklystics. “These ATMs offer users a convenient way to transact, bridging the gap between traditional finance and digital assets. Their user-friendly operations attract a growing clientele, leading to a substantial increase in their market value.”

The crypto ATM market has experienced rapid growth, with the number of ATMs soaring from 6 391 in January 2020 to 34 066 by January 2024 – a significant 433,031% increase in four years.

The surge in the number of machines reflects a corresponding increase in their market value, which stood at $340,52-million in 2023 based on revenue. Further projections indicate that by 2028, the market value will skyrocket by 663,538% to reach $2,6-billion.