Santo Blockchain Labs will install 300 crypto ATMs in the region during 2022.
Crypto company Santo Blockchain Labs has announced the acquisition of 300 bitcoin ATMs for installation in the Republic of Panama, Colombia and Costa Rica. The company expects the first 50 devices in the first quarter of 2022.
The company is also developing the Santo crypto wallet, according to a press release. In the 3rd quarter of next year, the crypto provider will also launch a bitcoin debit card.
There are currently 20 crypto ATMs installed in Panama, according to CoinATMRadar. In Costa Rica, there are only 5 devices to buy bitcoin, while in Colombia there are none. Thus, the number of ATMs in Central America will increase by 13 times. By comparison, more than 30,000 bitcoin ATMs have been installed in the United States. This is 88% of all crypto ATMs in the world.
“Santo is committed to bringing crypto banking, investment and e-commerce to the 400 million unbanked people in Latin America, including 10%-15% of Hispanics in the US,” said CEO Frank Iglesias.
Santo Blockchain Labs is a blockchain and cryptocurrency software developer. The startup operates in Vietnam and Panama. The Santo team develops digital smart contracts, issues non-exchangeable NFT SKULLYS tokens, tokenizes digital and physical assets, as well as projects in the AR and Internet of Things (IoT) for everyday life.
Recall that by the end of January 2022, crypto company Bitcoin Latinum plans to install 25 thousand ATMs in the United States. 5 year plan – 100k bitcoin ATM.
Read also: Walmart started selling bitcoins at chain stores.