• El Salvador is opening its second Bitcoin Embassy in Texas.
• The meeting between El Salvador’s Ambassador and the Deputy Secretary of the Government of Texas discussed expanding commercial and economic exchange projects.
• The Texas Bitcoin Foundation hosted the Salvadoran delegation in Austin and coordinated the meeting.
El Salvador Opening Second Bitcoin Embassy
El Salvador is opening its second Bitcoin Embassy, located in Texas, to expand commercial and economic exchange projects with the State of Texas. A meeting was held between El Salvador’s Ambassador to the United States, Milena Mayorga, other representatives of El Salvador, and Joe Esparza, Deputy Secretary of the Government of Texas.
Texas-Salvadoran Exchange Projects
Mayorga stated that during their meeting they discussed future plans for expanding commercial and economic exchange projects with Texas. She also noted that in 2022 there was a commercial exchange of $1,244,636,983 between both countries.
The Texas Bitcoin Foundation
The Texas Bitcoin Foundation coordinated the meeting between state officials from both countries as well as hosting the delegation from El Salvador in Austin. The foundation is dedicated to research and education about technology related to cryptocurrency such as bitcoin.
El Salvador Making History With Bitcoin
El Salvado made history when it became the first country to make bitcoin legal tender while challenging traditional fiat currency status quo at the same time. Since then, it has made moves towards creating sovereign debt bonds backed by bitcoin as well as hosting a successful conference powered by cryptocurrency alone. This latest move further demonstrates their commitment to adopting digital currency technology into their economy.
Overall this establishes another milestone for El Salvador in terms of their adoption of cryptocurrency technology into their economy after having already opened its first Bitcoin Embassy in Lugano, Switzerland earlier this year. Furthermore this was just one more step towards supporting digital currency by the government of Texas which has been publicly pro-Bitcoin lately.