El Salvador Government Plans to Deploy 200 Bitcoin ATMs in the Country

The government of El Salvador plans to deploy 200 Bitcoin ATMs in the country and connect them to the digital currency wallet Chivo.

In addition, according to El Salvador’s President Nayib Armando Bukele’s Twitter post, 50 financial branches in the country will support Bitcoin deposits and withdrawals, and transactions will also be commission-free. He said that accepting Bitcoin payments will save El Salvador $400 million in overseas remittances each year.

According to previously disclosed information, El Salvador will implement the Bitcoin law on September 7, allowing residents of the country to download the government's digital wallet for free and use Bitcoin and US dollars as legal tender at the same time.