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El Salvador Prepares for Bitcoin Adoption—Installs 200 Bitcoin ATMs

Published 08/26/2021, 10:29 AM
Updated 08/26/2021, 10:30 AM
© Reuters.  El Salvador Prepares for Bitcoin Adoption—Installs 200 Bitcoin ATMs
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  • El Salvador installs 200 Bitcoin ATMs ahead of Bitcoin adoption on September 7, 2021.
  • 50 bank branches are also preparing to handle crypto transactions.
  • This plan will work alongside the government’s cryptocurrency app, Chivo.

El Salvador surprised the world when President Nayib Bukele revealed the country’s goal of Bitcoin adoption. Bukele announced this last June 2021 and sources say it will take effect soon on September 7th.

As the country prepares for this, Bukele says that El Salvador is currently installing 200 Bitcoin ATMs. In addition, 50 bank branches are also adjusting to support Bitcoin adoption.

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