El Salvador – Together, the two governments will be working on a project that will help develop the cryptocurrency ecosystem in both regions.
This new development comes after El Salvador’s Bitcoin Embassy opened in Lugano, Switzerland late last year. The Embassy will serve as a place where people can learn about Bitcoin and its potential uses.
Texas, on the other hand, has been a hotbed for Bitcoin activity in the United States.
The state is home to a number of Bitcoin startups, and the government has been supportive of the cryptocurrency. This new partnership is a sign that both El Salvador and Texas are committed to developing the Bitcoin ecosystem and bringing the benefits of the cryptocurrency to their citizens.
Milena Mayorga, the Salvadoran Ambassador to the United States, announced the news in a statement on Twitter on Feb. 14. “In my meeting with the assistant secretary of the government of Texas, Joe Esparza, we discussed the opening of the second Bitcoin Embassy and the expansion of commercial and economic exchange projects,” Mayorga said. This latest Bitcoin initiative comes a few months after El Salvador opened the first Bitcoin Embassy in Switzerland’s southern city of Lugano in October 2022.
El Salvador is expanding its Bitcoin initiatives with the opening of a second Bitcoin Embassy. Ambassador Milena Mayorga made the announcement on Twitter on Feb. 14, stating that she had met with Joe Esparza, assistant secretary of the government of Texas, to discuss the expansion of commercial and economic exchange projects. The first Bitcoin Embassy opened in Lugano, Switzerland, in October 2022.
According to former Blockstream chief strategy officer Samson Mow, the phenomenon of the Bitcoin embassy is the next step in nation-states and cities adopting Bitcoin. He said that such initiatives imply cooperation between countries to develop new initiatives like establishing alliances between places that have adopted Bitcoin.
The news comes amid Texas lawmakers considering a new bill calling for a “master plan for the expansion of the blockchain industry.” Samson Mow believes that this is a sign that Bitcoin is being taken seriously by governments and that its adoption will only continue to grow.
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