El Salvador signals his next important step in the acceptance of Bitcoin by planning to create a special Bitcoin bank.
The Bitcoin office of the country was placed on X on 8 August, declaration:
“Bitcoin banks come to the Bitcoin country.”
Although no further details were announced, the announcement suggests a plan to integrate on Bitcoin -based banking into the financial system of the nation.
This may mean that new legislation supports banks that mainly work in Bitcoin and offer services such as deposits, loans and payments mentioned in the Digital Activum flagship.
Max Keizer, senior Bitcoin advisor of President Nayib Bukele, underlines The ambition behind the move, which describes the growth of Bitcoin in El Salvador as “unstoppable” and part of a global shift that challenges traditional banking systems.
Keizer claimed that Bitcoin absorbs the world of $ 400 trillion in stored value and decreases the influence of central banks.
El Salvador’s Bitcoin Drive
El Salvador wrote History in 2021 by becoming the first nation to accept Bitcoin as a legal means of payment.
Since then it has positioned itself as one of the world’s most crypto-friendly jurisdictions, in which global companies such as Stablecoin Emittent have been attracted to its headquarters in the country.
Data from the government shows that El Salvador has 6,262.18 BTC, with a value of more than $ 730 million at current prices. This accumulation has strengthened its image as a worldwide hub for Bitcoin innovation.
However, El Salvador’s Bitcoin policy has had to deal with stiff criticism from worldwide financial agencies.
Over the years, the International Monetary Fund (IMF) warned consistently about possible financial risks associated with the Bitcoin -Middle -American country.
Moreover, the financial watchdog recently also claimed that the country had no longer taken over Bitcoin at the end of 2024. According to the IMF, recent purchasing announcements were internal transfers instead of new acquisitions.
Despite such criticism, the Bitcoin-first approach of El Salvador has aroused interest from other countries. Bolivia reportedly studies the country’s experience because it regards its own potential bitcoin initiatives.
