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Representatives of many central banks will visit El Salvador

Representatives from a total of 44 countries are coming to El Salvador. They will discuss the benefits of Bitcoin in the country.

El Salvador’s President Nayib Bukele announced on his Twitter account that representatives from 32 central banks and 12 financial authorities from 44 countries will come to El Salvador to discuss financial inclusion, the digital economy, banking for the unbanked, the introduction of bitcoin in El Salvador and its benefits in the country.

We can see what countries have expressed interest in this meeting in the following tweets.

These are mostly poor countries

Interestingly, these are not directly the countries that are among the most economically developed. So it confirms that only countries struggling with their currency or looking for some alternative option to develop and support their economy are currently interested in cryptocurrencies at the state level.

Read also: Stablecoins still have work to do

Even though the cryptocurrency market is currently near its lowest levels, we are still seeing more and more adoption of cryptocurrencies around the world. We can think of this meeting as one of the biggest that has happened at, let’s say, the state level.

So we will see in the coming months if any other countries will join El Salvador and the Central African Republic. It may not be a legal tender, but at least some greater integration of cryptocurrencies into the state institutional system like South Korea is planning.

Bruno is an Investment enthusiast with several years of experience in the industry. He enjoys following the latest news and technology trends...

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