TGU Consulting Group – a Honduras-based firm – is reportedly going to finalize the installation of the first Bitcoin ATM in the nation. 

Specifically, Juan Mayen – chief executive officer for the establishment headquartered in the capital of Tegucigalpa – will reportedly be in charge of supervising the initiative to install the Bitcoin (BTC) ATM in one of the capital’s offices buildings.

The ATM – dubbed The “la bitcoinera” machine – reportedly makes it possible for crypto advocates to complete the purchases of BTC and Ether (ETH), via the utilization of the local fiat currency, lempira, as long as they are content with scanning their IDs, revealing some particular personal data. 

Mayen additionally remarked that the move reportedly marked the first time a measure for buying crypto in an automated manner is available throughout Honduras, although different software developers had been open to receiving crypto-enabled payments before. 

Per the TGU exec, numerous Honduras citizens had to exchange cash for crypto in person, an activity he views as containing extensive inconvenience and danger in the nation. 

Mayen’s perspective is reportedly backed by data from crowd-sourced platform Numbeo, showing that the level of crime in Honduras is “very high.”

Legislators across different nations throughout the Latin America region have reportedly been discussing employing additional crypto-focused initiatives, as the market continues to grow. 

El Salvador is reportedly in the middle of completing the installation of Bitcoin ATMs throughout the nation, to prepare for the crypto being added to the list of legitimate legal tender, beginning Sept. 7.