Company representatives confirmed that the American company Athena intends to provide 1,500 Bitcoin ATMs for the new crypto economy in El Salvador.
The deployment will start on a small scale and try dozens of machines to establish a business model.The Chicago-based company plans to invest more than $1 million in installations Cryptocurrency ATM, For areas where residents receive foreign remittances.
In addition to installing new machines, it will also hire employees and open an office to conduct business in El Salvador.
Athena currently operates only two ATMs of this type in El Salvador, one in El Zonte Beach as part of an experiment called “Bitcoin Beach”, which aims to make the town the world’s first crypto economy One is in El Tunco, the other is in El Tunco. CNN.
Matthias Gordonhorn, Athena’s director of Latin America, told Reuters that El Salvador’s President Naib Bukler “presented us with the daunting challenge of 1,500 ATMs. We will work hard to achieve this. We are a private company and we want to ensure that our development in this country is sustainable.”
On June 17, Athena announced its plans to expand in the country after the legislators Pass a bill to make Bitcoin a legal tenderThe company labelled President Booker and asked if one thousand machines were enough. He replied that he had set his goal on a larger number.
-Nayib Bukele (@nayibbukele) June 16, 2021
Goldenhörn said that the business model may be different from that of the United States, which currently has 19,325 BTC ATMs. Coin radar.
“Initially we will bring dozens of machines, (we will) test El Salvador’s business model, which may be different from the United States,”
El Salvador’s Bitcoin adoption plan has been opposed by the World Bank, which refused to assist the country in its transformation, citing “environmental and transparency deficiencies” related to digital assets.
On June 22, Cointelegraph reported that Opposition party filed a lawsuit Allegations that the new Bitcoin law may be unconstitutional and harmful to the country.