El Salvador Announces Plan for the World’s First Bitcoin Bank
El Salvador, which broke new ground by accepting Bitcoin as legal currency, has achieved another world first.
At this point, El Salvador has officially announced its plan to establish the world’s first Bitcoin bank.
As El Salvador prepares to launch the world’s first ‘Bitcoin bank,’ the BTC bank project has faced obstacles such as unclear rules, IMF resistance, and volatility.
Although details have not yet been disclosed, it is stated that this Bitcoin bank may operate with services entirely denominated in BTC.
While the El Salvador establishment date has not yet been finalized, this is the first time a dedicated Bitcoin financial institution has been officially announced.
El Salvador government agency ‘Bitcoin Office’ made a statement on its official X account, saying, “A Bitcoin bank will soon emerge in the country of Bitcoin.”
“In El Salvador, Bitcoin is operating as an unstoppable directional flow. Stores of value worth $400 trillion globally are slowly being incorporated into Bitcoin, and the current central banking system will become ineffective,” said Max Keiser, Chief Bitcoin Advisor to the President of El Salvador.
*This is not investment advice.
