ELEKTRA SELECTS ATHENA BITCOIN GLOBAL (OTC:ABIT) TO PROCESS BITCOIN PAYMENTS USING THE LIGHTNING NETWORK

Rhea-AI Summary

Athena Bitcoin Global has been appointed by Elektra, a subsidiary of Grupo Salinas, to process Bitcoin payments utilizing the Lightning Network. This partnership enables Elektra to accept Bitcoin at over 1,300 retail locations across Mexico and Latin America, enhancing their electronic payment system. Eric Gravengaard, CEO of Athena Bitcoin, emphasized the potential of Bitcoin to revolutionize online transactions and provide financial access. Athena operates a network of ATMs and services aimed at promoting financial inclusion.

Positive

• Elektra has over 1,300 points of sale, expanding Bitcoin acceptance in Mexico and Latin America.
• Partnership with Elektra enhances Athena's visibility and market reach in digital payments.
• Facilitates instant Bitcoin payments for goods and services, improving user experience.

Negative

• None.

Chicago/Mexico City, March 31, 2022 (GLOBE NEWSWIRE) -- (via Blockchain Wire) Today, Athena Bitcoin Global announces that Elektra, part of Grupo Salinas, has appointed Athena to process Bitcoin payments using the Lightning Network. Athena Bitcoin is providing the fiat crypto bridge, assuring processing and liquidity in compliance with national regulatory requirements, making Lightning Network payments possible.  

Elektra has more than 1,300 points of sale in Mexico and in Latin America. In December 2021, Elektra became the first Mexican retailer to accept bitcoin. All goods and services available online and in-store can now be paid instantly with the Lightning Network.  

Athena helps clients cross the "last mile" that connects crypto commerce to local currencies by providing custom solutions and 24-hour bank settlement. “Elektra realizes the potential for bitcoin to transform online payments and bring electronic payments to many who are shut out of the existing financial system,” said Eric Gravengaard, CEO and founder of Athena Bitcoin Global. “Our goal at Athena Bitcoin is to make accessing bitcoin easier for businesses, individuals, and governments who believe in financial freedom; we are honored to collaborate with like-minded partners."   

About Athena Bitcoin Global  

Athena Bitcoin Global owns and operates a global network of Athena Bitcoin ATMs. Ruru is Athena Bitcoin’s comprehensive platform that facilitates the use of digital currency and electronic banking to power economies in need of access and inclusion. Ruru components include Athena Bitcoin ATMs, Wallet, POS, OTC services and more, all are usable for ordinary people, businesses and governments.  

Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the preliminary prospectus filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and Focus Universal specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.

FAQ

What is the significance of Athena Bitcoin partnering with Elektra?

The partnership allows Elektra to process Bitcoin payments through the Lightning Network, enhancing its electronic payment system across over 1,300 locations.

How does the Lightning Network benefit Elektra's operations?

The Lightning Network enables instant Bitcoin payments for all goods and services, improving transaction efficiency and customer convenience.

What is the role of Athena Bitcoin in this collaboration?

Athena Bitcoin provides the infrastructure for processing Bitcoin payments and ensures compliance with regulatory requirements.

When did Elektra start accepting Bitcoin payments?

Elektra began accepting Bitcoin in December 2021, becoming the first Mexican retailer to do so.