Athena Bitcoin was founded in 2014 by three tech entrepreneurs. The company’s main business is in the cryptocurrency exchange market.
One of the main focuses for Athena Bitcoin is to bring more bitcoin ATMs to the Latin American and Caribbean region. Today the company announced that it is planning to bring 1500 bitcoin ATMs with the first locations already planned for Mexico and the Dominican Republic.
Athena Bitcoin ATMs will be shipping into El Salvador this month. This facility will be the first to provide a Bitcoin ATM in Central America, and will be housed within the new bitcoin-only supermarket, called Supermercado Athena. The ATMs will be installed in the supermarket’s first two locations, located in San Salvador and Santa Ana.
US-based Athena plans to equip El Salvador’s new crypto economy with 1,500 bitcoin ATMs, a company spokesperson confirmed.
The implementation will start on a small scale, testing a few dozen machines to build a business model. The Chicago-based company plans to invest more than $1 million to install crypto-currency ATMs in areas whose residents receive money from abroad.
In addition to installing the new machines, the company will also hire employees and open an office for its operations in El Salvador.
Athena currently operates only two such ATMs in El Salvador: one in El Zonte Beach as part of an experiment called Bitcoin Beach, which aims to make the city one of the world’s first crypto-economies, and the other in El Tunco, CNN reports.
Matthias Goldenhorn, Athena’s director for Latin America, told Reuters that El Salvador’s president, Nayib Buquele, has set us an ambitious goal of 1,500 ATMs, which we will reach, but in stages. We are a private company and we want to ensure the sustainability of the land.
The 17th. In June, Athena announced plans to expand in the country when lawmakers passed a law recognizing bitcoin as legal tender. The company approached President Bukela and asked him if a thousand cars would be enough. He replied that he was aiming for a higher number.
1,000 ? How about 1,500? #BTC♻️ https://t.co/PDApT7M7T5
– Nayib Bukele (@nayibbukele) June 16, 2021
Goldenhorn said the business model will likely be different than in the U.S., where there are currently a total of 19,325 BTC ATMs, according to Coinatmradar.
First, we’re going to bring in dozens of cars, test the business model in El Salvador, which will likely be different than in the U.S.
Related: Athena Bitcoin installs first dollar-powered bitcoin ATM in Argentina
El Salvador’s plan to adopt bitcoin has already met with resistance from the World Bank, which has refused to help the country move forward, citing environmental and transparency shortcomings related to the digital asset.
The 22nd. In June, Cointelegraph reported that an opposition political party had filed a lawsuit claiming that the new bitcoin law could be unconstitutional and harmful to the country.When Athena Bitcoin Exchange announced late last year they would be bringing over 1500 Bitcoin ATMs to El Salvador, they received a great deal of press. In 2014, Athena brought over 1,000 ATMs to El Salvador, and have since been expanding rapidly in Mexico and Colombia.. Read more about local bitcoin el salvador and let us know what you think.
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