The first Bitcoin ATM in Honduras began operations this week, with the aim of spreading cryptocurrencies in the Central American country.

The ATM is located in an office tower in the country’s capital, Tegucigalpa, and is operated by the TGU Consulting Group.

The ATM, called ”la bitcoinera”, allows citizens to purchase Bitcoin and Ethereum with the local currency, Lempira (HNL).

According to Reuters, the use of cryptocurrencies is expected to increase foreign money shipments to the country. In 2020, people of Honduran origin living abroad sent 5.7 billion dollars to the country or about 20% of Hndoura’s GDP, through remittances.

It is recalled that in June, nearby El Salvador became the first state in the world to recognize Bitcoin as a legal currency. The latest news implies that Cuba will be the second country to do so as well.

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