El Salvador is quickly becoming a hub for Bitcoin operations following its decision to make the flagship cryptocurrency legal tender. The Central American country has scored another win as a representative of U.S. company Athena disclosed that the firm would install 1500 Bitcoin ATMs in El Salvador.
For a start, Athena will install a few dozen machines to test its business model. The firm plans to spend more than $1 million on its Bitcoin ATM installation and will be targeting regions with high numbers of people receiving remittances from abroad. Athena also plans to open an office in El Salvador. Athena's director for Latin America Matias Goldenhörn explained:
Initially we are going to bring dozens of machines, [we'll] test what the business model is like in El Salvador, which will probably be different than in the United States.
Athena is not entirely new to the Bitcoin scenes in El Salvador. The company also operates two ATMs in the country, one at El Zonte beach and another at El Tunco, CNN reports.
Earlier this month, Athena announced its plans to expand in El Salvador in the wake of the country’s bill making Bitcoin legal tender. The company tagged President Bukele asking if 1,000 Bitcoin ATMS would be enough. Bukele, in response, pushed the target to a larger figure.