U.S. company Athena intends to supply El Salvador’s new crypto-based economy with 1500 Bitcoin ATMs, a company representative has confirmed.
The rollout will start small, trialing a few dozen machines to establish a business model. The Chicago headquartered firm plans to invest more than $1 million to install cryptocurrency ATMs, targeting regions where residents receive remittances from abroad.
Along with installing the new machines it will also hire staff and open an office to carry out operations in El Salvador.
Athena currently operates just two ATMs of this type 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, according to CNN.