Salvadoraa authorities did not publish details about the requirements for bitcoin banks and other details. Officials hope that bitcoin banks will be able to offer deposits, lending and investment tools using BTC.
Earlier, President of Salvadora Nayib Bukele proposed to create a private investment bank (BPI). The ambassador of Salvador to the United States Milena Mayorga explained that this model of work would allow Salvador banks to work in the conditions of minimal regulation – unlike traditional credit institutions. Financial organizations will have fewer restrictions in partnerships with international banks and issuing loans, the ambassador said.
Initially, the Buhlet plan suggested that the BPI should have minimal share capital of $ 50 million and at least two shareholders. Similar BPI could be registered as managers of digital assets and suppliers of Bitcoin services. The Technology, Tourism and Investment Commission is still studying the possibilities of creating BPI in the country. The senior adviser to the cryptocurrencies Books Max Keiser believes that the use of bitcoin in the banking market will lead to an increase in Salvador’s GDP. The CEO of Ark Investment Katie Wood agreed with this point of view. According to its forecast, in the next five years after the creation of the BPI, the country will feel serious economic growth.
According to the recent report of the International Monetary Fund (IMF), since the beginning of 2025, Salvador stopped buying bitcoins. This happened after the approval of the Extnded Fund Facility (EFF) stabilization fund in the amount of $ 1.4 billion. The country’s authorities want to continue to count on the IMF loans.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
