El Salvador Plans to Open 'Bitcoin Embassy' in Texas

Policy

El Salvador is in discussions to open a "bitcoin embassy" in Texas, El Salvador's Ambassador to the U.S. Milena Mayorga said on Tuesday.

The Central American country wishes to open a bitcoin embassy in "new ally" Texas, Mayorga said on Twitter. The embassy will aid "expansion of commercial and economic exchange projects," Mayorga said following a meeting with the state's Secretary of State Joe Esparza.

El Salvador agreed to open a similar establishment in Lugano, Switzerland in October last year with the aim of encouraging adoption of bitcoin across Europe.

It can be assumed that an equivalent in Texas would have a similar aim for bitcoin adoption in the U.S.

El Salvador became the first country to adopt bitcoin (BTC) as legal tender in 2021 and has recently approved a law that will facilitate the issuance of a bitcoin-backed bond.

Read more: El Salvador Pays Back $800M Maturing Bond, President Nayib Bukele Says




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