El Salvador To Open ‘Bitcoin Embassy’ In Texas
El Salvador is in talks to open a “bitcoin embassy” in Texas, according to El Salvador’s Ambassador to the United States, Milena Mayorga, on February 14th.
Mayorga stated on Twitter that the Central American country wishes to establish a bitcoin embassy in “new ally” Texas. The embassy will help with the “expansion of commercial and economic exchange projects,” Mayorga said after meeting with state Secretary of State Joe Esparza.
In October of last year, El Salvador agreed to open a similar establishment in Lugano, Switzerland, with the goal of encouraging bitcoin adoption throughout Europe.
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.
(With inputs from Shikha Singh)
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