El Salvador’s adoption of bitcoin has been beset by public skepticism about the cryptocurrency.
San Salvador:
El Salvador is seeking support from cryptocurrency exchange Binance to launch bitcoin as a legal tender and issue bitcoin bonds, the Central American country’s ambassador to the United States said on Wednesday.
Binance CEO Changpeng Zhao is visiting El Salvador and plans to meet Chairman Nayib Bukele on Thursday, ambassador Milena Mayorga told reporters.
Mayorga said Zhao’s visit was a vote of confidence on Bukele’s decision to adopt bitcoin as a legal tender last September, as well as its plan to issue bitcoin-backed bonds.
Zhao praised El Salvador for playing a pioneering role in bitcoin adoption and said that Bukele’s presidency will be remembered in “heroic” terms for his bold bets on the future.
The country’s bitcoin adoption has been beset by public skepticism about the cryptocurrency, which has fallen significantly in price since hitting a record high in early November.
On Tuesday, the government said it was delaying its plan to issue bitcoin bonds.
