Technology
Artificial Intelligence (AI) Chips Market to Grow by USD 902.65 Billion (2025-2029), Focus on AI Chips for Smartphones Drives Growth, Report with AI Trends – Technavio
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1 year agoon
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NEW YORK, Jan. 24, 2025 /PRNewswire/ — Report on how AI is redefining market landscape – The global artificial intelligence (AI) chips market size is estimated to grow by USD 902.65 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of over 81.2% during the forecast period. Increased focus on developing AI chips for smartphones is driving market growth, with a trend towards convergence of AI and IoT. However, dearth of technically skilled workers for ai chips development poses a challenge. Key market players include Advanced Micro Devices Inc., Baidu Inc., Broadcom Inc., Cerebras, Fujitsu Ltd., Google LLC, Graphcore Ltd., Huawei Technologies Co. Ltd., Intel Corp., International Business Machines Corp., MediaTek Inc., Microchip Technology Inc., NVIDIA Corp., NXP Semiconductors NV, Qualcomm Inc., SambaNova Systems Inc., Samsung Electronics Co. Ltd., SenseTime Group Inc., Taiwan Semiconductor Manufacturing Co. Ltd., and Tesla Inc..
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Artificial Intelligence (AI) Chips Market Scope
Report Coverage
Details
Base year
2024
Historic period
2019 – 2023
Forecast period
2025-2029
Growth momentum & CAGR
Accelerate at a CAGR of 81.2%
Market growth 2025-2029
USD 902.65 billion
Market structure
Fragmented
YoY growth 2022-2023 (%)
61.7
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 42%
Key countries
US, Canada, China, UK, Germany, France, Japan, Italy, India, and Brazil
Key companies profiled
Advanced Micro Devices Inc., Baidu Inc., Broadcom Inc., Cerebras, Fujitsu Ltd., Google LLC, Graphcore Ltd., Huawei Technologies Co. Ltd., Intel Corp., International Business Machines Corp., MediaTek Inc., Microchip Technology Inc., NVIDIA Corp., NXP Semiconductors NV, Qualcomm Inc., SambaNova Systems Inc., Samsung Electronics Co. Ltd., SenseTime Group Inc., Taiwan Semiconductor Manufacturing Co. Ltd., and Tesla Inc.
Market Driver
Artificial Intelligence (AI) is revolutionizing industries from healthcare to retail, finance, automotive, and more. Deep learning and machine learning algorithms require powerful hardware components like AI chips. Advanced Micro Devices (AMD) and Nvidia lead the market with their Trainium2 chip and A100 chip, respectively. These chips use highbandwidth memory for energy efficiency and high computing power. Quantum computing and generative AI are emerging trends in AI technologies. AI chip lines, such as Ascend 910B chipset and H200 chipset, are designed specifically for AI applications. Cloud providers like Microsoft Azure, Amazon Web Services, and Google Cloud offer AI services, while edge computing enables real-time data processing on Edge devices. Ethical concerns surrounding AI use are rising. AI applications in healthcare, elder care, and IoT devices require high security and privacy. ML and DL algorithms power computer vision, image recognition, and pose detection, while cognitive computing and machine intelligence enable personalized health and treatment devices. AI technologies require various hardware components, including CPUs, GPUs, FPGAs, ASICs, DSPs, microcontrollers, frame buffers, and display devices. Energy efficiency, latency, and parallel computing are crucial factors for AI data centers. Theoretical and algorithmic basis, automatic analysis, and extraction are essential for AI applications. Patent filings for AI technologies are increasing, with applications in various industries, including manufacturing machines, wearable devices, smart homes, and connected cars. System failure and malfunctioning are concerns, and ethical considerations are necessary for the successful implementation of AI technologies.
The Internet of Things (IoT) market is experiencing significant growth due to the numerous advantages it offers in various industries, including aerospace and defense, automotive, consumer electronics, healthcare, and more. IoT devices, which include cameras, drones, smart speakers, smartphones, smart TVs, and others, are making decisions based on data they receive without human intervention. To enhance the capabilities of these devices, manufacturers are integrating Human-Machine Interface (HMI) technologies and deploying AI chips. These chips enable power-efficient data processing and machine learning computation, allowing IoT devices to function more intelligently and autonomously. The integration of AI chips in IoT devices is a key trend driving market growth.
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Market Challenges
Artificial Intelligence (AI) is revolutionizing industries from healthcare to retail, finance, and automotive. However, the growing demand for AI technologies, including deep learning and machine learning, puts pressure on hardware components like AI chips. Companies like Advanced Micro Devices and Nvidia are investing in AI chip lines, such as the Trainium2 chip and Nvidia’s A100 chip, to meet this demand. These chips enable AI algorithms to run efficiently, powering applications like image recognition and pose detection. However, challenges remain. Energy efficiency is crucial, as AI data centers require vast amounts of power. Quantum computing and generative AI may offer solutions, but they present complexities. Ethical concerns around AI use also arise. Edge computing and Edge devices are becoming essential for real-time applications, reducing latency and processing data locally. Big data requires high-bandwidth memory and parallel computing, which can be achieved through system on chip, multichip module, or ASICs. Major cloud providers like Microsoft Azure, Amazon Web Services, and Google Cloud offer AI services, but they face competition from edge devices and AI data centers. AI applications in industries like healthcare, retail, finance, and automotive require specialized hardware, such as CPUs, GPUs, FPGAs, and DSPs. The future of AI lies in the intersection of AI technologies, hardware components, and ethical considerations.The AI chips market is experiencing significant growth due to the potential revenue increases for businesses adopting artificial intelligence. However, the lack of skilled labor in AI technology poses a significant challenge to market expansion. Companies must carefully consider the high research and development costs and potential talent shortage before implementing AI solutions. Enterprise AI implementation is currently hindered by the scarcity of experienced professionals with the necessary technical expertise in this field.
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Segment Overview
This artificial intelligence (ai) chips market report extensively covers market segmentation by
Product 1.1 ASICs1.2 GPUs1.3 CPUs1.4 FPGAsEnd-user 2.1 Media and advertising2.2 BFSI2.3 IT and telecommunication2.4 OthersGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and AfricaProcessing TypeApplicationTechnology
1.1 ASICs- Artificial Intelligence (AI) chips are experiencing significant growth, with application-specific integrated circuits (ASICs) leading the way. ASICs are customized chips designed for specific functions, offering faster performance than GPUs and FPGAs. Google’s Tensor Processing Unit (TPU) is an ASIC-based AI chip, specifically engineered for deep neural networks. TPU is a hardware-software solution that learns tasks by analyzing large data sets. It’s already being used in Google Search and Google Street View. Data centers are integrating TPUs into servers to manage data efficiently. TPU’s instruction set allows TensorFlow programs to be modified, enabling new algorithms. TensorFlow is an open-source machine learning library, making ASIC-based AI chips a promising choice for data center applications. The use of ASICs is driving the growth of AI chips market, providing superior performance and speed compared to GPUs, FPGAs, and CPUs.
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Research Analysis
Artificial Intelligence (AI) Chips Market: The global AI Chips Market is experiencing significant growth due to the increasing demand for advanced AI technologies in various industries. AI Chips are specialized hardware components designed to accelerate AI algorithms, including deep learning and machine learning. These chips are integral to AI applications in robotics, autonomous vehicles, healthcare, retail, finance, automotive, IoT devices, and more. Quantum computing is also expected to revolutionize AI technologies, leading to the development of more powerful AI chips. Advanced Micro and other key players are investing heavily in AI chip research and development. The market includes various types of chips such as CPU, FPGA, GPU, system on chip, multichip module, and Trainium2 chip. Ethical concerns surrounding AI are also driving the need for more efficient and specific integrated AI chips. The market is segmented into cloud and edge computing, with the edge computing segment expected to grow rapidly due to the increasing demand for real-time AI processing. Highbandwidth memory is another critical component of AI chips, enabling faster data processing and analysis. Overall, the AI Chips Market is poised for significant growth in the coming years.
Market Research Overview
Artificial Intelligence (AI) Chips Market: Overview The Artificial Intelligence (AI) Chips Market is a rapidly growing sector that focuses on designing and manufacturing specialized hardware components for AI applications. These chips are designed to accelerate AI algorithms, including deep learning and machine learning, to enable advanced functionalities such as image recognition, pose detection, behavioral patterns analysis, and natural language processing. AI Chips are essential components of various AI technologies, including robotics, quantum computing, and cognitive computing. They come in different forms, such as System on Chip (SoC), Multichip Module (MCM), CPU, GPU, FPGA, ASIC, DSP, and microcontrollers. The market for AI Chips is driven by the increasing demand for AI applications in various industries, including healthcare, retail, finance, automotive, and manufacturing. The need for real-time data processing and energy efficiency is also a significant factor driving the growth of the market. AI Chips are used in both centralized cloud servers and edge devices for data processing. Centralized cloud servers, such as Microsoft Azure, Amazon Web Services, and Google Cloud, require high computing power and high-bandwidth memory, making GPUs and CPUs popular choices for AI Chips. Edge devices, on the other hand, require low power consumption and small form factors, making FPGAs and ASICs popular choices. The market for AI Chips is also driven by the increasing use of AI in mobile applications, healthcare, and IoT devices. Ethical concerns regarding AI and the elderly population’s growing demand for personalized health solutions are also expected to fuel the market’s growth. Some of the notable AI Chips in the market include Nvidia’s A100 chip, Ascend 910B chipset, and H200 chipset. Companies are also investing heavily in patent filing and system failure prevention to ensure the reliability and efficiency of their AI Chips. The market for AI Chips is expected to continue growing as AI applications become more prevalent in various industries. The increasing use of AI in real-time applications, such as autonomous vehicles and smart homes, is also expected to drive the market’s growth. However, the market’s growth may be hindered by the high cost of developing and manufacturing AI Chips and the ethical concerns surrounding AI. In conclusion, the AI Chips Market is a dynamic and growing sector that plays a crucial role in enabling advanced AI applications across various industries. The market’s growth is driven by the increasing demand for AI applications, the need for energy efficiency, and the development of new AI technologies, such as generative AI and cognitive computing. However, the market’s growth may be hindered by ethical concerns and the high cost of developing and manufacturing AI Chips.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
ProductASICsGPUsCPUsFPGAsEnd-userMedia And AdvertisingBFSIIT And TelecommunicationOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And AfricaProcessing TypeApplicationTechnology
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
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ANGHAMI REPORTS FY2025 REVENUE OF $99.3M, UP 27%, ON 3.5M SUBSCRIBERS AND LANDMARK STRATEGIC PARTNERSHIPS
Published
44 minutes agoon
April 30, 2026By
ABU DHABI, UAE, April 30, 2026 /PRNewswire/ — Anghami Inc. (NASDAQ: ANGH) (“Anghami”), the leading music and entertainment streaming platform in the MENA region, today announced its consolidated financial results for the year ended December 31, 2025, marked by revenue growth and subscribers reaching 3.5 million with a registered user base now exceeding 130 million, supported by landmark strategic partnerships.
HIGHLIGHTS
Revenue increased to $99.3 million in 2025, up 27% from $78.1 million in 2024. Growth came from subscriber gains across OSN+ and Anghami Plus, and the first full-year consolidation of OSN+ (April 1, 2024).Paid Subscribers exceeded 3.5 million across Anghami and OSN+, and registered users crossed 130 million.Warner Bros. Discovery closed its $57 million minority investment in OSN Streaming Limited in March 2025, expanding the content partnership and committing to joint investment in regional original production.Multiple strategic partnerships launched for OSN+ with Noon as well as a regional distribution agreement with talabat and the first-of-its-kind “Epic Bundle” with Shahid and Disney+ in December, delivering strong subscriber traction, high activation rates, and above-average conversion, reinforcing Anghami’s expanding distribution and monetization ecosystem.
Commenting on Anghami’s results, Elie Habib, CEO of Anghami, said: “2025 was the first full year of the combined Anghami and OSN+ business, and a year in which the scale of the opportunity became clear. Revenue grew 27% to $99.3 million. Paying subscribers exceeded 3.5 million, and our registered user base crossed 130 million across the MENA region.
We made important progress across the business. We rebuilt the OSN+ platform in-house, launched our first OSN+ Original, expanded strategic distribution partnerships with talabat and Noon, and signed the Epic Bundle with Shahid and Disney+, bringing three leading entertainment platforms into one subscription for the first time in the region. Warner Bros. Discovery’s investment in OSN Streaming Limited reflects confidence in our model, our market position, and the long-term value of premium regional streaming. Our HBO content commitments remain contractual and unchanged.
With a stronger product, a deeper content slate, Ramadan momentum, and early Epic Bundle traction, we enter 2026 focused on scaling revenue, improving unit economics, and converting momentum into sustainable growth.”
BUSINESS UPDATE
2025 marked a significant year in Anghami’s evolution as it progressed the integration of OSN+ into its multi-media streaming ecosystem and expanded its content, partnerships, and technology capabilities.
Anghami continued to invest in its proprietary technology, including AI-powered content recommendations, and completed the in-house rebuild of the OSN+ streaming platform, delivering improved performance, 4K capabilities, and full control over the user experience.
In January 2025, OSN+ premiered its original production The Fashionista, reinforcing the platform’s investment in locally relevant content alongside its exclusive HBO catalogue, which includes House of the Dragon, The Last of Us, and Game of Thrones.
In March 2025, Warner Bros. Discovery announced an agreement to acquire a minority stake in OSN Streaming Limited, Anghami’s majority shareholder, investing $57 million. The transaction expands the existing content partnership and includes plans to jointly invest in locally produced content targeting regional audiences.
OSN+ partnerships with talabat and Noon expanded distribution and opened new customer acquisition channels, while high-profile live events including the Amr Diab & Adam Port concert in Abu Dhabi and Nancy Ajram Riyadh Boulevard activation reinforced Anghami’s cultural leadership position. Regional conflicts have impacted live events and regional content production; however, Anghami continued to scale its cultural footprint through flagship initiatives such as “Aktar Men Ayya Waqt,” a pan-Arab collaboration uniting leading artists across the region, alongside a focused Ramadan content strategy that delivered resilient engagement and outperformed industry trends that typically see lower metrics during the period.
As the year drew to a close, OSN+ launched the “Epic Bundle”, a first-of-its-kind bundled subscription with Shahid and Disney+, bringing all three platforms together under a single plan and broadening content access for consumers.
Anghami also continued to expand its telco partnership ecosystem in 2025, maintaining integrations with 45 telco operators across the MENA region. Telco partnerships serve as a dual-purpose growth lever by facilitating frictionless subscription payments, helping Anghami maintain one of the highest paying conversion rates among music streaming services in the MENA region, while also providing a significant marketing channel through co-branded campaigns and data bundle offerings.
From a financial perspective, revenue increased to $99.3 million in 2025, from $78.1 million in 2024, driven by subscriber growth across Anghami Plus and OSN+ and the first full-year contribution from the OSN+ video streaming segment which was consolidated from 1 April 2024. Profitability was impacted by the fixed video content licensing fees reflecting the full 12 month impact compared to 2024.
During 2025 and early 2026, the Company strengthened its Board of Directors with the appointments of Bassil Almouallimi (SRMG), James Cooke (Warner Bros. Discovery), Moustapha Chami (KIPCO), and Eman Al Awadhi (KIPCO).
OUTLOOK
Anghami is positioned to capitalize on continued growth in digital entertainment demand across the MENA region. The Company’s platform-led partnerships enhance distribution, content access and audience reach, further differentiating Anghami within an increasingly competitive streaming market.
Strategic collaborations with leading regional and global platforms, including Shahid, Disney+, talabat, and the expanded Warner Bros. Discovery relationship, are expected to remain key growth drivers. The content lineup is set to remain exceptional throughout the year, featuring highly anticipated global releases and returning flagship series. This includes A Knight of the Seven Kingdoms, Euphoria Season 3, Season 2 of The Pitt, which has emerged as one of the most widely watched series globally, and Season 4 of FROM. This is further reinforced by upcoming seasons of The House of the Dragon and a robust pipeline of award-winning and globally successful films, including major 2025 theatrical releases such as Sinners, Superman, and other leading box office titles.
Building on this early traction, Anghami aims to scale embedded and bundled distribution models to support more efficient user acquisition and deeper engagement across its core markets.
Management remains focused on balancing growth with operational discipline, as continued investment in platform capabilities, reshaping content acquisition costs, advertising optimization and partner integrations support scale benefits over time. As these initiatives mature, Anghami aims to drive improved monetization and stronger operating leverage across its digital entertainment platform that will lead to material unit economics improvements in 2026.
Anghami’s annual report on Form 20-F (the “Form 20-F”) for the year ended December 31, 2025 was filed today with the U.S. Securities and Exchange Commission. The Form 20-F can be accessed by visiting either the SEC’s website at www.sec.gov or the Company’s website at https://www.anghami.com/investors.
About Anghami Inc. (NASDAQ: ANGH)
Anghami is the leading multi-media technology streaming platform in the Middle East and North Africa (“MENA”) region, offering a comprehensive ecosystem of exclusive premium video, music, podcasts, live entertainment, audio services, and more.
With a user base exceeding 130 million registered users and over 3.5 million paid subscribers, Anghami has partnered with 45 telcos across MENA, facilitating customer acquisition and subscription payment, in addition to establishing relationships with major film studios, entertainment giants, and music labels, both regional and international. Headquartered in Abu Dhabi, UAE, Anghami operates in 16 countries across MENA, with offices in Beirut, Dubai, Cairo, and Riyadh.
To learn more about Anghami, please visit: https://anghami.com. Any questions for the Investors Relations Department can be emailed to IR@anghami.com or anghami@apcoworldwide.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Anghami’s actual results may differ from its expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “start,” “project,” “budget,” “forecast,” “preliminary,” “anticipate,” “position,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “continue,” “predicts,” “potential,” “transform,” “commitment” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These statements include those related to the effect of the OSN+ integration, Warner Bros. Discovery investment in OSN Streaming, other new partnerships and collaborations, and future growth. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside Anghami’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the outcome of any legal proceedings that may be instituted against Anghami; wars, conflicts and political instability; foreign exchange fluctuations, changes in applicable laws or regulations; and the possibility that Anghami may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties identified in Anghami’s fiscal 2025 annual report on Form 20-F filed with the SEC on April 30, 2026, including those under “Risk Factors” therein, and in other documents filed or to be filed with the SEC by Anghami and available at the SEC’s website at www.sec.gov. Anghami cautions that the foregoing list of factors is not exclusive. Anghami cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, Anghami does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.
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Soliant Health Names Graig Paglieri CEO; Founder David Alexander Transitions to Vice Chairman
Published
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April 30, 2026By
Transition supports Soliant’s continued growth as a leading specialized workforce organization in education and healthcare
PEACHTREE CORNERS, Ga., April 30, 2026 /PRNewswire/ — Soliant Health announced a leadership transition today as Founder and Chief Executive Officer David Alexander transitions to Vice Chairman, and Graig Paglieri has been appointed Chief Executive Officer, effective May 26, 2026. Paglieri joins Soliant following his tenure as Chief Executive of Randstad Digital, the technology staffing and solutions business unit of Randstad, the world’s leading talent company.
Under Alexander’s leadership, Soliant has built a strong national presence as one of the largest specialized workforce organizations serving the education and healthcare sectors. Since founding the company in 1992, Alexander has guided its expansion to more than 1,000 colleagues, supporting over 3,300 school districts and 750 healthcare organizations across 48 states.
“After more than three decades leading the business, I believe this is the right time to transition day-to-day leadership while remaining actively engaged in supporting the company’s long-term strategy. Graig’s experience accelerating growth, integrating acquisitions, and building high-performing global teams will be instrumental, and he is the right leader to build on our foundation and lead Soliant forward,” said David Alexander, Founder and current CEO of Soliant.
Graig Paglieri, Chief Executive Officer
Paglieri joins Soliant after leading large, global staffing and services businesses, most recently serving as Chief Executive of Randstad Digital, spanning North America, Europe, and APAC.During his tenure, he played a central role in unifying Randstad’s global technology businesses under the Randstad Digital brand identity.Paglieri played a key role in three significant strategic acquisitions that strengthened the company’s market position and service offerings, growing the business unit to $3 billion in revenue.He will focus on growing the Soliant business, strengthening relationships with partners, and supporting the team as the company continues to expand.
“I’m honored to join Soliant at this point in its journey. The company has a strong reputation, a differentiated culture, and a clear opportunity to continue growing. I look forward to partnering with David and the leadership team to build on that momentum,” said Graig Paglieri, incoming Chief Executive Officer of Soliant Health effective May 26, 2026.
Differentiated Platform
Soliant helps schools meet growing, legally mandated special education and behavioral support requirements by delivering highly qualified clinicians across a range of therapeutic areas. Soliant’s brands include BlazerWorks, VocoVision, and Spindle, enabling Soliant to deliver high quality solutions to its clients across both physical and virtual modalities.
About Soliant Health
Soliant is a leader in human capital solutions within the education and healthcare sectors. It operates offices in Atlanta, Tampa, Jacksonville, Houston, and Greenville. The company identifies and recruits highly skilled healthcare professionals across a wide range of specialties and connects them with healthcare providers in the education, nursing, and pharmacy segments, primarily on a temporary basis. For more information, visit soliant.com.
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Localcoin responds to federal proposal to ban crypto ATMs in Canada, calls for industry consultation
Published
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April 30, 2026By
Proposed nationwide ban raises concerns over lack of industry consultation and evidence-based policymaking
TORONTO, April 30, 2026 /CNW/ – Localcoin, Canada’s largest cryptocurrency ATM operator, is expressing concern following a recent federal government proposal to ban crypto ATMs nationwide, introduced without consultation with industry operators or key stakeholders.
With a network of over 1,000 retail partners across Canada, many of them independent, locally owned businesses, and dozens of contracted service providers nationwide, Localcoin’s mission is to provide accessible, safe, and user-friendly access to digital currency. Through its crypto ATMs, Localcoin served over 250,000 Canadians who value the convenience of buying and selling crypto with cash at familiar retail locations.
“This proposal represents a sweeping measure that risks undermining an entire industry, hundreds of small retail partners, and the Canadian employees and contractors the sector supports,” says Tristan Fong, CEO Localcoin. “It was developed without prior notice to stakeholders, and no one in the industry was aware it was under consideration. As a company committed to expanding the safe and responsible use of cryptocurrency, a blanket ban would disproportionately impact legitimate operators like Localcoin, as well as the hundreds of thousands of Canadians who use crypto ATMs for lawful, financial transactions.”
While Localcoin acknowledges that bad actors can misuse financial technologies, including crypto ATMs, and that fraud remains a concern, it notes that this is not unique to the crypto ATM industry.
“Fraud is a broader challenge across the financial system,” Fong adds. “If we look across sectors in Canada, there have been hundreds of thousands of fraud cases, yet outright bans have not been proposed in response. Eliminating one access point does not stop criminal activity, it simply shifts it elsewhere, often to channels with fewer safeguards and less oversight. Rather than imposing a reactionary ban, effective solutions require targeted enforcement, stronger protections, and collaboration between regulators and industry. The focus should remain on addressing bad actors directly, rather than restricting legitimate access to financial tools.”
“We are ready to work collaboratively with policymakers to strengthen regulation, enhance fraud prevention measures, and improve public education across crypto ATM networks,” says Fong. “Regulatory tightening is a normal part of the financial services sector, and is especially common in the crypto sub-sector as it evolves. We believe there is a time and place for government support to ensure greater protection of Canadians, and that is important. However, an immediate escalation toward a ban, without clear supporting data or industry consultation, is not in the public interest.”
To learn more, visit Localcoinatm.com.
About Localcoin: Founded in 2016 in Toronto, Localcoin is Canada’s largest Bitcoin ATM network, with over 60 full-time staff members in Canada, operating over 2,150 machines across five countries including Canada, Australia, New Zealand, Hong Kong, and Poland. Localcoin makes cryptocurrency accessible to anyone, regardless of technical experience, through physical ATM kiosks that allow customers to buy and sell crypto with cash in minutes.
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