• El Salvador’s Ambassador to the United States, Milena Mayorga, announced plans to open a “Bitcoin Embassy” in Texas.
• The embassy would be the second of its kind and aims to spread cryptocurrency adoption.
• El Salvador has already taken steps towards wide Bitcoin adoption, such as opening an office in Lugano, Switzerland and signing a Memorandum of Understanding on economic cooperation.
El Salvador Plans To Open A Bitcoin Embassy In Texas
El Salvador’s ambassador to the United States, Milena Mayorga, has revealed plans to open a „Bitcoin embassy“ in Texas during her meeting with Texas Deputy Secretary of State Joe Esparza. This move is part of El Salvador’s campaign for wide Bitcoin adoption.
What Is The Role Of The Bitcoin Embassy?
The exact role of the embassy remains unclear but it is likely that it will help educate the public about cryptocurrencies such as Bitcoin (BTC).
El Salvador’s Commitment To Spreading Crypto Adoption
This is not the first establishment El Salvador would be opening in a foreign country for its mission to spread cryptocurrency adoption. In 2022, they opened an office in Lugano, Switzerland and signed a Memorandum of Understanding (MoU) on economic cooperation with them. Additionally, last year they worked on drafting a Digital Asset Issuance Law which would enable operations with any crypto asset.
What Other Steps Are Being Taken?
In order to further facilitate cryptocurrency usage and exchanges between countries, El Salvador plans to expand their commercial exchange projects as well. This will allow citizens from both countries access to different types of financial services like remittances and payments through digital assets like bitcoin or other cryptocurrencies.