Now that El Salvador has become the first-ever country in the entire world to legalize cryptocurrencies, the crypto-sector has started moving towards it. For the entire crypto-verse, El Salvador has ended up becoming a holy shrine, which every crypto-pilgrim wishes to go to.
By now, the entire cryptocurrency industry is aware of El Salvador and is aiming to make its way to the country. Cryptocurrency firms from all over the world now want to move their operations to El Salvador. The firms know that they will be welcomed with open arms in El Salvador and it would prove to be the holiest place for the cryptocurrency sector.
El Salvador expressed its interest in legalizing cryptocurrencies at the beginning of June 2021, during the Bitcoin 2021 Conference in Miami, Florida. Surprisingly, cryptocurrencies were given legal status in the country by June 9, 2021.
Since then, the country has made several developments for the adoption of cryptocurrencies. The country is giving a lot of priority to the mining of Bitcoin (BTC). This is the reason why it has started working on many projects for the production of environmentally friendly electricity.
The country is also welcoming many cryptocurrency-related firms aiming to launch their services and projects in the country. Just recently, it was Athena a company based in the United States that expressed its interest in providing its service in El Salvador.
The company has now confirmed that it is set to launch its services in El Salvador in order to boost its cryptocurrency-based economy. Athena has confirmed that it is going to install 1500 ATMs for Bitcoin (BTC) all over the country. This information has also been confirmed by one of the representatives from the company.
Athena has revealed that it is not going to go ahead installing 1500 ATMs in the country in a single go. The representative has revealed that the company is going to start with a small number of installations and then it will start picking up the pace.
Athena has announced that it will be investing more than a million dollars towards the installation of the Bitcoin (BTC) ATMs all over El Salvador.
The company has announced that the locals in El Salvador will be able to receive remittances through these ATMs. The citizens in El Salvador would no longer have to go through a lot of hassle and would be able to do it directly through the ATMs.
The company has also announced it will be doing more than just installing ATMs in the country. In the business model, the company has revealed that it will be setting up offices in El Salvador and have local staff there.