After one year of development, Velorex is now presenting its DeFi-focused machine to the masses — and it could be coming to a shop near you later this year.

The company has started to take preliminary orders for these ATMs for local businesses, and they're set to be released commercially in the fourth quarter of 2022.

The promotional campaign shows a man entering a convenience store and walking up to the machine. He scans the QR code for his wallet, inserts some banknotes, and then chooses the coins he wants to buy. A final scan of his wallet means the transaction is complete.

Through a simplistic touch-screen interface, it's also possible to convert cryptocurrencies into cash at any time — with money returned from the ATM itself.

Velorex says that its ATM network is powered by VEX tokens — a deflationary BEP-20 token. A "buy and burn" mechanism means that this cryptocurrency's circulating supply is reduced every time a transaction on the machine is completed.

According to the Web3 embedded systems engineering company, small retailers that own a Velorex DeFi ATM will be in complete control of the software and settings within these machines — and this means they'll have the freedom to run their business without depending on third parties. Better still, a commission is earned every time a trade is completed.

At present, these ATMs are being advertised for between €6,000 and €7,000 — and Velorex says a new marketing campaign will allow the company to proudly display its products and services at a variety of conventions and events worldwide.

The company told Cointelegraph: "Velorex strives to allow a greater amount