Bullet Blockchain, Inc. announced that BULT has reached a Bitcoin ATM technology licensing agreement with TekX Mining and Gaming PC Solutions LLC. in which TekX will provide manufacturing and engineering services utilizing BULT's patented Bitcoin ATM technology. Bitcoin ATMs or crypto ATMs are kiosks that allow people to purchase Bitcoin and other cryptocurrencies by using cash, debit or credit cards through an automated teller machine or ‘ATM.'

The TekX Bitcoin ATMs will allow two-way functionality enabling both the purchase of Bitcoin as well as the sale of Bitcoin for cash. BULT's patented technology will be incorporated in all Bitcoin ATM kiosks that will be manufactured by TekX. Upon execution of the Patent License Agreement, TekX will be obligated to pay a royalty e to BULT for each Bitcoin ATMTM produced and sold.

Some Bitcoin ATMs operating in the US are imported from other countries; for example, Czech company General Bytes sold thousands of their machines to operators operating in US. Through Coinme, bitcoin can be exchanged in the United States for local currency at ATMs located in select MoneyGram locations and Coinstar machines. BULT will develop its own network of licensed Bitcoin ATM kiosks.