El Salvador turns to Binance for help on bitcoin adoption
SAN SALVADOR (Reuters) – El Salvador is in search of assist from cryptocurrency alternate Binance for its implementation of bitcoin as authorized tender and the issuance of bitcoin bonds, the Central American nation’s ambassador to the USA stated on Wednesday.
Binance Chief Govt Officer Changpeng Zhao is visiting El Salvador and plans to fulfill President Nayib Bukele on Thursday, ambassador Milena Mayorga informed reporters.
Mayorga stated Zhao’s go to was a vote of confidence in Bukele’s choice to undertake bitcoin as authorized tender final September, in addition to its plan to concern bitcoin-backed bonds.
Zhao praised El Salvador for taking up a pioneering function within the adoption of bitcoin and stated Bukele’s presidency can be remembered in “heroic” phrases for its daring wager on the long run.
The nation’s adoption of bitcoin has been beset by public skepticism in regards to the cryptocurrency, which has depreciated considerably since hitting a file excessive in early November.
On Tuesday, the federal government stated it was delaying its deliberate issuance of bitcoin bonds.
(Reporting by Nelson Renteria in San Salvador; Enhancing by Matthew Lewis)
