Bitcoin Depot Enters Hong Kong in First-Ever Asia Expansion

The company said its launch in the city positions it to become one of Hong Kong's top five BTM operators, marking the beginning of a broader push beyond its North American base.

Based in Atlanta and founded in 2016, Bitcoin Depot has grown into a major player in the digital-asset on-ramp sector. Its network of kiosks in the United States has expanded steadily over the years, and the company now maintains one of the largest physical footprints for cash-to-crypto access in the country. According to the company, it operates over 9,000 BTMs and provides additional retail on-ramp services through thousands of partnered storefronts across more than 30 U.S. states. The Hong Kong expansion is the company's first attempt to replicate this model in an international market.

The firm described Hong Kong as an attractive gateway into Asia, highlighting the city's role as a long-standing financial hub with a public increasingly familiar with digital payment tools. Bitcoin Depot said the combination of infrastructure, consumer traffic and technology-ready retail environments made Hong Kong a logical first step as it considers further overseas growth.

Scott Buchanan, President & COO of Bitcoin Depot, highlighted the company’s confidence in the market, noting that “Hong Kong is quickly becoming a global center for crypto, with the right mix of regulation, demand, and momentum.” He said the company’s approach aligns with local consumer behavior, explaining that “What we do best is make Bitcoin easy and accessible in the real world, directly addressing the demand we see in the Hong Kong market.” Buchanan added that establishing operations in the city reflects the company’s broader vision, calling the expansion “a clear step forward as we continue our mission of bringing Bitcoin to the Masses.”

Bitcoin Depot's business consists of converting physical cash into bitcoin through simple, kiosk-based transactions. The company positions its BTMs as a tool for users looking for in-person, cash-driven access rather than online exchanges or mobile apps. This includes customers who may not have access to traditional banking services, individuals who prefer cash transactions, or users seeking faster, retail-based purchase options. The company believes that its approach fills a niche that remains relevant despite the rise of digital-only trading platforms.

In its announcement, Bitcoin Depot also cited growing international interest in easy-to-use crypto on-ramps as part of its reason for expanding abroad. While it remains headquartered in the United States, its leadership has indicated global markets with strong retail activity, an established financial sector, or high tourist flows could be a key target for future expansion.

The Hong Kong launch also happens at a time when physical crypto access points remain part of the wider digital-asset adoption patterns globally. As the industry has moved toward mobile-first platforms, many retail users have continued to rely on physical kiosks for convenience, familiarity and cash-based usage. Companies in the sector have kept BTMs as an important bridge between traditional money and decentralized digital assets in markets where cash is still widely available.

From an operational perspective, Bitcoin Depot's expansion into Hong Kong includes deploying kiosks at convenience-based retail venues-a practice the company has leveraged throughout the United States to extend reach and drive foot traffic. The firm said it intends to establish a meaningful market presence and expand as demand builds.

The entry into Asia marks a continuation of the momentum built in the past year. Bitcoin Depot noted several recent developments, including U.S. retail partnerships, enhancements to its technology stack, and other efforts to increase visibility of the brand. The company has also made it known that operational efficiency and compliance continue to be core components of the broader business expansion plans.

Although Hong Kong is the first step into Asia, according to Bitcoin Depot, the company's announcement suggests it will continue expanding into further international markets. It said that it is looking to establish a strong foundation in Hong Kong before considering where similar demand patterns exist elsewhere in the region.

Users in Hong Kong’s fast-moving retail environment now have an additional option for accessing bitcoin through physical machines with Bitcoin Depot’s entry into the market. Still, online trading and mobile applications remain the dominant channels in most crypto markets, while BTMs provide an alternative for individuals who prefer face-to-face, retail-based transactions. Cash-conversion kiosks continue to be relevant for people seeking simplicity, immediacy, or a more familiar transaction format.

But for Bitcoin Depot, the importance of its foray into Hong Kong goes beyond local market share. It represents a test case for how well it can replicate U.S. success in a region with different consumer behaviors, payment preferences, and retail environments. Early learnings from Hong Kong will inform how fast and how widely-the company moves into other Asian markets.

As the global digital-asset ecosystem matures, companies focused on physical crypto access points are experimenting with regional expansion strategies complementary to online platforms. Bitcoin Depot's move suggests that cash-to-crypto infrastructure, though representing a niche category, continues to play a role in broadening access to digital assets.

Now that its first foothold in Asia is set, Bitcoin Depot will spend the next few months assessing user adoption, retail performance and overall demand in Hong Kong. The results of this expansion might well determine if it becomes a modest foreign participant or an active competitor across multiple Asian markets.