Athena in plan to bring 1500 Bitcoin ATMs to El Salvador
U.S.-based company Athena intends to supply 1500 Bitcoin ATMs to El Salvador’s new crypto-based economy.
The rollout will begin with implementing a few dozen machines to establish a business model. Along with installing the new machines the company will also hire staff and open an office to carry out operations across the country.
The Chicago headquartered firm plans to invest more than $1 million to install cryptocurrency ATMs, targeting regions where residents receive remittances from abroad.
Athena currently operates just two bitcoin ATMs in El Salvador, one at El Zonte beach as part of an experiment called “Bitcoin Beach” aimed at making the town one of the world's first crypto economies, and the other in El Tunco.
On June 17, Athena posted about its plans to expand in the country in the wake of lawmakers passing a bill to make Bitcoin legal tender
The company also tagged President Bukele asking if a thousand machines would be enough.
El Salvador’s Bitcoin adoption plan has already experienced pushback from the World Bank, which refused to assist the country in its transition, citing the environmental and transparency shortcomings associated with the digital asset.