Access to BTC will become much easier in El Salvador thanks to the introduction of more bitomats there. Athena has just confirmed its plans to install as many as 1,500 of these devices in the country.
Athena enters the Salvadoran market
The American company Athena intends to supply the Salvadoran market with as many as 1,500 bitomats. The information has already been confirmed by the company’s representatives.
The device mounting process will start with the installation of several dozen bitomats. However, the Chicago-based company plans to invest as much as over $ 1 million in the installation “ATMs with cryptocurrencies.” The first devices will appear in regions where residents most often receive transfers from abroad.
Athena will also open a new office in El Salvador to help coordinate the company’s activities.
Company currently only supports two bitmates in El Salvador: one on El Zonte beach (as part of an experiment called “Bitcoin Beach”), and the other in El Tunco.
The company’s Latin America director, Matias Goldenhörn, told Reuters that El Salvador’s president Nayib Bukele has started an interesting process in which his company is now to install as many as 1,500 bitomats. As he adds, the work will be carried out in stages.
– We are a private company and we want our development in the country to be sustainable – He said.
On June 17, Athena published the first information about its expansion plans in El Salvador. This happened after parliament passed a new law making Bitcoin legal tender.
Goldenhörn stated that the company’s business model in El Salvador is likely to be different than that in the US, where, according to Coinatmradar, there are currently nearly 20,000 jobs in total. bitomats.
– At the beginning, we will bring dozens of machines, (we will test) what the business model in El Salvador looks like, which will probably be slightly different from that carried out in the United States Goldenhörn said.
However, the plan to adopt Bitcoin in El Salvador has already faced criticism from the World Bank, which refused to help the country in its economic transformation, citing “Weaknesses in environmental protection and transparency” related to BTC.
In turn, one of the opposition parties in the country, the National Liberation Front Farabundo Martí (FMLN), has filed a lawsuit with the Supreme Court, arguing that the new Bitcoin law may be unconstitutional and harmful to the country.
FMLN politician Jaime Guevara believes the new rules are “illegal”. He added that the complaint to the court would also be a test for the newly appointed judges of the Constitutional Chamber of the Supreme Court as regards their independence.
However, there are also opinions of people who say that the case has a second bottom. If the adoption of BTC in El Salvador was successful, other countries with inflation problems could start using the cryptocurrency. In a sense, then, it would be a blow to the United States and to the dollar, which is the foundation of Washington’s power.