Greetings friends, today I will tell you about a breakthrough in the world of cryptocurrencies in Latin America, this is the establishment of ATM factories for cryptocurrencies. It is quite exciting to read this kind of news related to a market that lately shows a great growth in the demand of crypto assets, something that before was exclusive for Europe and the East of the world, so let's see what it is all about.
The manufacturer of bitcoin automated teller machines (ATM), ChainBytes, reported this Wednesday, June 30, that it moved its main production center to El Salvador. In 10 days, the company will have ready the first prototype completely elaborated on Salvadoran soil and, from there, its efforts will focus on achieving a productivity of 50 machines a day or 1,500 a month.
"In the short term, the El Salvador bitcoin ATM factory will not only have the capacity to respond to the needs of the national market, but will also be able to meet demand throughout Latin America and even the United States. This was pointed out by Eric Grill, CEO of ChainBytes in an exclusive conversation with CriptoNoticias.
He added that, since 2012, the company has been manufacturing and offering maintenance services for operators and companies focused on the bitcoin ATM business. ChainBytes has its main offices in the State of Pennsylvania, in the United States. In addition, the company owned a production center in China that it had to dismantle recently due to the crackdown on cryptocurrencies in that country. Now, the company has moved its entire production center to El Salvador.
The company's initiative was applauded by Mónica Taher, in charge of International Economic and Technological Affairs at the Secretary of Commerce of El Salvador. After the meeting she held with part of the team, the official highlighted the manufacturer's interest in establishing itself in the Central American country, with which it is "providing investment and generating more jobs," as it was recently pointed out on Twitter. And despite the short time that ChainBytes has in El Salvador, they are already looking for support operators, so it could be expected that new job opportunities will arise in the future.
El Salvador would compete with Canada if it installs 1,500 bitcoin ATMs
As reported by CriptoNoticias a few days ago, El Salvador plans to become the second country with the most bitcoin ATMs in the world, since the plan of the Government of Nayib Bukele is to install at least 1,500 equipment throughout its territory . The initial plan of the ATM operator, Athena Bitcoin, is to place a device in each of the 14 departments of El Salvador, for which it calculates to invest more than 1 million dollars.
If successful, El Salvador would be competing with Canada, which currently has 1,379 ATMs. Only the United States, where there are more than 16,000 devices, surpasses it. But to implement the Bitcoin Law, the nation will also have to overcome technological barriers that can get in the way of the generalization of the use and adoption of cryptoassets as legal currency by Salvadorans.source
