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.
Tomorrow, 32 central banks and 12 financial authorities (44 countries) will meet in El Salvador to discuss financial inclusion, digital economy, banking the unbanked, the #Bitcoin rollout and its benefits in our country.
— Nayib Bukele (@nayibbukele) May 16, 2022
We can see what countries have expressed interest in this meeting in the following tweets.
Central Bank of Eswatini
Ministry of Finance of Eswatini
Central Bank of Jordan
Central Bank of The Gambia
Comisión Nacional de Bancos y Seguros de Honduras
Direction Générale du Trésor, Ministère des Finances et du Budget, Madagascar
Maldives Monetary Authority— Nayib Bukele (@nayibbukele) May 16, 2022
Central Bank of Egypt
Central Bank of Jordan
Central Bank of Nigeria
Ministère de l'Economie, des Finances et du Plan du Sénégal
Superintendencia de Bancos de la República Dominicana
Banque Centrale de Mauritanie
Banque Centrale du Congo
Central Bank of Armenia
Bangladesh Bank— Nayib Bukele (@nayibbukele) May 16, 2022
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.
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