Cyptonews: Panama will be the country with the largest bitcoin ATMs in Latin America

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A Chinese company is interested in making Panama the Latin American country with the most bitcoin ATMs. It plans to install more than 50 ATMs in the first quarter of 2022. Thanks to this initiative, Panama could surpass Colombia, which has about 30 ATMs spread throughout the country.

The company in charge of distributing around 300 ATMs in Latin America, of which 50 will be destined for Panama, is Santo Blockchain, a subsidiary of Santo Pay. The next countries to benefit will be Colombia and Costa Rica with these new ATMs.

Currently the country with the most bitcoin ATMs is El Salvador with 205 devices in its territory. Colombia is next with 38, and Puerto Rico is the third country with the most ATMs. However, the situation could change if Santo Pay's plans become a reality.

The company is also developing a digital wallet called Santo Pay that will synchronize with these ATMs, just like in El Salvador where they have the chivo wallet.

According to official reports the ATMs will be shipped from China in the third week of February of this year. Although El Salvador can currently meet the current demand for ATMs, it was decided to import them from China.

The company is currently focusing on Panama as a gateway to Latin America due to its cryptocurrency friendly policies. It is worth remembering that in September last year a bill was presented to regulate bitcoin and other cryptocurrencies. However, the country is struggling to get off the FATF gray list, which raises doubts about the regulation of bitcoin and other cryptocurrencies.

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