Main navigation

Central America's Biggest Multilateral Development Bank to Help El Salvador with Bitcoin Implementation

News
Mon, 06/14/2021 - 15:32
article image
Alex Dovbnya
The Central American Bank for Economic Integration will provide technical assistance to El Salvador
Central America's Biggest Multilateral Development Bank to Help El Salvador with Bitcoin Implementation
Cover image via stock.adobe.com
Read U.TODAY on
Google News

The Central American Bank for Economic Integration (CABEI), the largest multilateral development bank in Central America, will assist El Salvador in its endeavor to adopt Bitcoin, President Dante Mossi announced Monday.  

It will create a team with El Salvador’s Ministry of Commerce and the Central Reserve Bank of El Salvador that will work

Related
JPMorgan Sees No Economic Benefits in El Salvador’s Bitcoin Move
According to Mossi, Bitcoin will create “many opportunities” for the tropical nation:       

Bitcoin is a really big deal for the El Salvadorans, and we're really proud that they've made us part of this new policy.

Considering that CABEI has $13.5 billion in assets, its strong support could encourage other nations in Central America to follow El Salvador’s suit.

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.