The Cashless Revolution: North America and Asia’s Shift to Digital Currencies

As ATMs and cash fade away, North America and Asia embrace digital currencies, reshaping the future of payments.

The convenience of cash, a longtime companion in daily transactions, is slowly diminishing in North America and across Asia. As the disappearance of automated teller machines (ATMs) accelerates and digital payment methods become more prevalent, physical money is fading into the background. Digital currencies, such as Bitcoin and Central Bank Digital Currencies (CBDCs), are poised to take center stage, fundamentally changing how we handle transactions. This transformation provides a broader perspective on the global shift towards a cashless society.

The Decline of ATMs in North America

In North America, the once ubiquitous ATMs are becoming a rare sight. In the United States, the number of ATMs peaked in 2009 and has been steadily decreasing since. The primary drivers behind this decline are the rise of digital payment methods, the increased use of credit and debit cards, and the convenience of mobile payment platforms like Apple Pay and Google Wallet.

Canada mirrors the United States in this trend. The number of ATMs has been…