El Salvador Considers Opening Second Bitcoin Embassy in Texas to Boost Economic Exchange

On Feb. 14, 2023, Milena Mayorga, the Salvadoran ambassador to the United States, introduced that her nation is contemplating opening a second bitcoin embassy within the Lone Star State. Mayorga mentioned that Texas is “our new ally” and the aim is to increase “commercial and economic exchange projects.”

Ambassador Milena Mayorga Fosters Growing Relationship Between El Salvador and Texas

This week, Milena Mayorga, the Salvadoran ambassador to the U.S., mentioned her current assembly with Texas Secretary of State Joe Esparza. Mayorga acknowledged that authorities officers had been contemplating the opportunity of opening a second bitcoin embassy within the state. She famous that discussions had already taken place with authorities from Lugano, Switzerland a few related bitcoin embassy idea.

“The state of Texas, our new ally,” Mayorga tweeted. “In my assembly with the deputy secretary of the Government of Texas, Joe Esparza … We mentioned the opening of the second [bitcoin] embassy, and the growth of business and financial change tasks.”

The Salvadoran ambassador’s proposal comes after El Salvador’s approval of the Digital Assets Issuance Law in January 2023 and a current mission assertion on El Salvador’s economic system by the International Monetary Fund (IMF). The IMF famous that El Salvador had managed to keep away from cryptocurrency-related dangers because of the sluggish and tepid adoption of bitcoin within the nation. This growth additionally follows feedback by Salvadoran President Nayib Bukele relating to disinformation within the media.

El Salvador’s finance minister, Alejandro Zelaya, took to Twitter to refute claims made by some nationwide and worldwide media, tweeting: “El Salvador has met its debt obligations. We announce that on this day we have completed the payment of the 2023 Bond for $800 million, plus interest.”

The Salvadoran ambassador, Mayorga, famous in her personal Twitter thread that Texas Secretary of State Joe Esparza had expressed a optimistic view of the connection between El Salvador and Texas by way of business and financial change, with the 2 entities having exchanged $1,244,636,983 in 2022.

Will the potential opening of a second bitcoin embassy in Texas additional strengthen the connection between El Salvador and the Lone Star state, and doubtlessly enhance the adoption of cryptocurrencies within the area? Share your ideas within the feedback under.