Wednesday, 15 February 2023

El Salvador To Open A Bitcoin Embassy In Texas (Bitcoin Magazine)

by Berkeley Lovelace

A new link between the Central American nation and Texas has been borne out of Bitcoin.

After opening its first Bitcoin Embassy in Lugano, Switzerland, El Salvador is opening a second one in Texas.

According to a tweet from El Salvador’s Ambassador to the United States, Milena Mayorga, a meeting took place between her, other representatives of El Salvador and the Deputy Secretary of the Government of Texas, Joe Esparza.

“We discussed the opening of the second Bitcoin embassy and the expansion of commercial and economic exchange projects,” Mayorga said, also noting that “In 2022, El Salvador and the State of Texas had a commercial exchange of $1,244,636,983.”

Much of the Texas government has been publicly pro-Bitcoin as of late, and this is one step further in its involvement in the industry. El Salvador became the first sovereign country in the world to make bitcoin legal tender, making history while simultaneously challenging the fiat status quo.

Since then, the country has made moves to create the first bitcoin-backed sovereign debt bonds as well as hosting a successful conference, and is home to many projects entirely powered by Bitcoin. Just as the establishment of its Switzerland embassy was a step forward for El Salvador, this meeting between the country’s Ambassador and representatives of the Government of Texas is another milestone in its adoption of Bitcoin.