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El Salvador to Setup Bitcoin Banks – The First of Its Kind

Source Beincrypto

El Salvador’s Bitcoin revolution is entering a new chapter. The Bitcoin Office X handle announced that “Bitcoin Banks” are coming to the nation — the first of their kind anywhere in the world.

The reveal came from the country’s official Bitcoin Office, which teased the development in a post on X, referring to El Salvador as “Bitcoin Country.”

While details on the upcoming Bitcoin Banks remain scarce, the initiative is expected to further embed Bitcoin into the nation’s financial infrastructure. The country might have potentially passed a law to offer banking services fully denominated in BTC.

Max Keiser, Senior Bitcoin Adviser to President Nayib Bukele, expressed the scale of the vision in an exclusive comment to BeInCrypto.

“Bitcoin continues its unstoppable vector in El Salvador. Bitcoin is eating all the world’s $400 trillion in stored value while rendering inert all the central banks & their doomed, archaic, 3-letter agency helpers,” Keiser stated.

Keiser, along with his wife Stacy Herbert — Director of the Bitcoin Office — has been a key driver of El Salvador’s pro-Bitcoin policies since the nation adopted BTC as legal tender in 2021.

The launch of Bitcoin Banks could mark a pivotal moment in the country’s bid to position itself as the global epicenter of Bitcoin innovation.

This is a developing story. Stay tuned for further updates.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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