The race for more financial efficiency continues in El Salvador. The country has not limited its support for digital currency to Bitcoin adoption alone, but has gone to install over 201 Bitcoin ATMs in just a month. This puts them in third place just behind the United States and Canada as the country with the highest ATM installations. El Salvador now has 205 Bitcoin ATMs which accounts for 70% of all installations in South America.
Just a month ago, El Salvador held the 43rd position in the ranking of ATM installations worldwide with just four functional crypto ATMs. However, to the surprise of everyone, the country went on a growth rampage to hold the highest number of Bitcoin ATM installations in one month. This puts them ahead of the United Kingdom. There are currently 27, 664 active crypto ATMs worldwide and over 2, 790 of the machines have been added in September.
The increase in crypto ATMs in El Salvador aligns with the vision of the president to encourage all businesses in the region to accept Bitcoin as a legal tender. These installations will make crypto transactions faster and easier and also encourage more merchants to adopt Bitcoin. The Salvadorian government has partnered with a local cryptocurrency wallet provider, Chivo, to ensure maximum efficiency of the BTC wallets and ATM usage in the country.
El Salvador currently has the U.S. Dollar and Bitcoin has its official legal tender. Although the Salvadorian government has encountered hurdles following the adoption, there seems to be no slowing down. We can all expect to see more improvisation and collaboration in El Salvador crypto endeavors and hopefully, this will encourage more countries to follow too.