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Panama is doing its best to keep up Bitcoinization of El Salvador Install 50 Bitcoins (Bitcoin) Automated teller machines in 2022. Thanks to Santo Blockchain, 50 of the planned 300 ATMs will be shipped to Latin America in early 2022.
As a vertically integrated blockchain and cryptocurrency company with offices in Saigon and Panama City, Vietnam, Santo Blockchain will invest a total of US$1 million in Latin America next year as part of its 300 Bitcoin ATM plan.
Shengdu Blockchain Announce Panama will be the first country to benefit from its newly purchased Bitcoin ATMs, while Colombia and Costa Rica are the next countries to receive attention.
Panama has become an increasingly friendly jurisdiction for cryptocurrencies. In September, a new bill was drafted Acknowledge BTC as an alternative payment method, It is possible to achieve greater freedom in Panama when using cryptocurrencies.
Frank Yglesias, CEO of Santo Blockchain, nicknamed “Crypto Hemingway”, supply As a cryptocurrency consultant to Alejandro Castillero, a member of the Panamanian Congress, he is responsible for overseeing the provisions of the new law. In a 300 ATM transaction, Yglesias said:
“Santo is working hard to help more than 400 million unbanked or unbanked people in Latin America bring a new wave of crypto banking, investment and business, including 10% to 15% of Hispanics in the United States who do not have a bank account.”
As part of this plan, Latinos using ATMs will be able to purchase small amounts of BTC with cash. The Santo business model connects the ATM with the company’s layer 2 BTC wallet, and finally launches a Santo debit card in the third quarter of 2022.
At the end of the company year podcastIglesias said that Panama was the first Latin American country because it was the gateway to the Americas in terms of trade and logistics, financial and economic stability. Ultimately, Panama is a “stepping stone” to the wider adoption of BTC in Latin America.
related: The creator of Cardano says that more countries will follow El Salvador’s Bitcoin initiative
This news welcomes a continent that is lagging behind the physical Bitcoin infrastructure.In fact, Latin America still has some work to do to keep up 5,000 Bitcoin ATMs in North AmericaTo make matters worse, in October this year, the retail giants Walmart piloted 200 Bitcoin ATMs As part of a plan to eventually install 8,000 units nationwide.
according to CoinATM radar Numbers, a Bitcoin ATM tracking website, North America owns 94.8% of the world’s BTC ATMs; Latin America only holds 0.2%. As expected, El Salvador leads the region It has 205 ATM machines.
As Santo plans to introduce 50 new ATMs in 2022, Panama will provide 73 physical BTC locations, second only to the United Kingdom in the world Rank.
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