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Tuesday, September 21, 2021

Cryptocurrency Being Eyed by Central Banks of Honduras, Guatemala, Following El Salvador’s Bitcoin Adoption

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The central banks of Honduras and Guatemala are eying digital currencies, officers mentioned on Wednesday, following El Salvador’s adoption of Bitcoin as authorized foreign money.

The central financial institution presidents for Honduras and Guatemala each mentioned the banks had been finding out digital currencies with the purpose of finally introducing them into the financial system, together with through a central financial institution digital foreign money.

El Salvador on Tuesday made historical past with its adoption of Bitcoin as authorized tender, although the launch of its government-backed digital pockets hit snags together with technological glitches and an indignant protest by mistrustful residents. Bitcoin worth in India stood at Rs. 36.4 lakhs as of 10am IST on September 9. 

“The Central Financial institution of Honduras has additionally just lately begun, authorised by the board of administrators, to provoke the research….. to find out the feasibility of conducting a pilot check issuing its personal digital cash or a central financial institution digital foreign money,” mentioned Honduras central financial institution president Wilfredo Cerrato, talking at a regional financial discussion board in Tegucigalpa.

Cerrato mentioned the adoption of digital currencies in Central American international locations needs to be addressed within the Central American Financial Council, which brings collectively central financial institution authorities.

Guatemala’s central financial institution vice chairman Jose Alfredo Blanco mentioned the financial institution was finding out the potential for an area digital foreign money that might be known as iQuetzal.

“It should take maybe a very long time to finish the investigation section,” Blanco mentioned, including {that a} committee had been shaped six months in the past.

© Thomson Reuters 2021

Desirous about cryptocurrency? We talk about all issues crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Devices 360 podcast. Orbital is on the market on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

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