Home News Athena confirms plans to bring 1500 Bitcoin ATMs to El Salvador

Athena confirms plans to bring 1500 Bitcoin ATMs to El Salvador

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The Athena Bitcoin company plans to invest over $ 1 million in the installation of ATMs in El Salvador to make the cryptocurrency even more affordable.

Athena Bitcoin, a Bitcoin ATM operator, has expanded into the Americas. And today announced the installation of 1,500 cryptocurrency exchange devices in El Salvador. So far, the company operates only two devices in the country. And it also plans to start testing the business model with a small one – a network of several dozen devices.

Recall that after President Nayib Bukele on his Twitter announced the adoption of a law giving BTC the status of a legal means of payment, the operator proposed to deploy a network of 1,000 machines in the country. Whether jokingly or seriously, the head of state replied that he hoped for 1,500 ATMs. The challenge accepted – now Athena announces the phased creation of the network of the scale declared by the President.

One million dollars will be spent on opening an office, hiring staff and, of course, installing devices. The company will try to complete all the necessary work by September 7. Because it is then that the law will come into force. Allowing the use of Bitcoin as a means of payment in the territory of El Salvador.

Athena directors plan to deploy “exciting” company in El Salvador

Matias Goldenhörn, director of Athena, said that the company they plan to deploy in the country has not yet been fully thought out. But it will surely be “exciting”. He added that Nayib Bukele, the incumbent President of El Salvador, “has given the company a challenge”:

“The front of work to do is really huge. We approached the issue in a comprehensive manner and will carry out the order in stages. We are a private company and we want to leave a good impression in the hearts of the state and its residents”.

As a reminder, on June 8, El Salvador’s legislature passed a bill proposed by President Nayib Bukele. It makes Bitcoin legal tender alongside the US dollar. Crypto ATMs are seen as the ideal way for two worlds to interact, physical and digital. Yet easy to use, even for those far removed from the world of cryptocurrencies.

“In the US, we installed one ATM for every 150,000 people, and then we added devices to make it one in 100,000. In El Salvador, the numbers are amazing: we will install one ATM for every 4,000 people. But this is just the beginning, what will happen if the initiative is recognized by people? ”, Matias Goldenhörn told about the details of his work.

Athena has decided to expand into countries closer to the south

The Athena director also added that his company wants to change the logistics of fiat and forge partnerships with financial institutions directly in the country.

“In every [Latin American] country I’ve run the company, it’s a completely different game and we need to be very creative to stay afloat”, Goldenhörn said.

So, instead of staying in its “commercial comfort zone” in the US, Athena decided to infiltrate countries south of the border.

“We really believe in the mission of bringing this to the people who need it the most,” Goldenhörn added.

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