El Salvador Plans to Open 'Bitcoin Embassy' in Texas
The Central American country wishes to open a bitcoin embassy in "new ally" Texas, Mayorga said on Twitter, to aid "expansion of commercial and economic exchange projects."
Feb 15, 2023 at 12:55 p.m. UTC
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El Salvador is in discussions to open a "bitcoin embassy" in Texas, El Salvador's Ambassador to the U.S., Milena Mayorga, said on Tuesday.
The Central American country wishes to open a bitcoin embassy in "new ally" Texas, Mayorga said on Twitter. The embassy will aid "expansion of commercial and economic exchange projects," Mayorga said following a meeting with the state's Secretary of State, Joe Esparza.
El Salvador agreed to open a similar establishment in Lugano, Switzerland, in October with the aim of encouraging adoption of bitcoin across Europe.
It can be assumed that an equivalent in Texas would have a similar aim for bitcoin adoption in the U.S.
El Salvador became the first country to adopt bitcoin (BTC) as legal tender in 2021 and has recently approved a law that will facilitate the issuance of a bitcoin-backed bond.
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Jamie Crawley is a CoinDesk news reporter based in London.