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First Bitcoin ATM opens in Singapore

Singapore's first locally-designed Bitcoin ATM has been unveiled at the Spiffy Dapper, a pub along Boat Quay.

Named the Tembusu, the machine was launched by Tembusu Terminals, a joint venture between cryptocurrency research consultancy firm Estates General, and software and hardware development studio Red Steed Studios.

The ATM will be able to incorporate various physical security and anti-¬theft measures such as ID and thumbprint scanning for users. It will also incorporate Anti-¬Money Laundering (AML) features.

On top of accepting cash and dispensing cryptocurrency, the Tembusu will also be able to dispense cash.