Bank of America outlines 4 potential benefits of El Salvador’s Bitcoin strategy

Bank of America outlines 4 potential benefits of El Salvador’s Bitcoin strategy

Bank of America, one of the nation’s largest financial institutions based on total assets, believes El Salvador could have a lot to gain with its latest foray into Bitcoin (BTC).In a report published last week, analysts at the bank said El Salvador’s decision to recognize BTC as legal tender could streamline remittances, promote financial digitization, provide consumers with greater choice and open up the country to American firms and digital currency miners. The bank noted

Read more

Inside El Salvador’s Bitcoin experiment: Cointelegraph video report

Inside El Salvador’s Bitcoin experiment: Cointelegraph video report

Last month, Bitcoin was adopted as legal tender in El Salvador, joining the U.S. dollar.The country’s new Bitcoin Law, which will be enforced starting Sept. 7, will allow Salvadorans to use Bitcoin (BTC) as a currency to purchase goods and services, as well as to pay taxes and debt. El Salvador’s president, Nayib Bukele, has stated that Bitcoin adoption will hugely benefit the 70% of the local population that lacks access to banking services. He

Read more

Amazon plans to accept Bitcoin payments this year, claims insider

Amazon plans to accept Bitcoin payments this year, claims insider

An anonymous source within Amazon has reportedly told London business newspaper City A.M. that the e-commerce giant is planning to accept Bitcoin (BTC) payments by the end of 2021, possibly setting the stage for broader mainstream acceptance of crypto transactions. “This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future – this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work,” the

Read more

Bahamas central bank prepares national Sand Dollar push this summer

Bahamas central bank prepares national Sand Dollar push this summer

The Bahamas is beginning a push for national digital currency adoption this summer, the central bank’s governor, John Rolle, said. The Central Bank of the Bahamas is preparing a national push for its digital currency this summer to get more Bahamians signing up for the Sand Dollar.In another move toward the adoption of the Bahamas’ central bank digital currency, the CBOB is now focused on connecting mobile Sand Dollar wallets with commercial banking systems,…

Read more

DeFi Leader MarkerDAO Partners With Simplex to Create a Dai Fiat On-Ramp

DeFi Leader MarkerDAO Partners With Simplex to Create a Dai Fiat On-Ramp

Major decentralized finance player MakerDAO has partnered with payment processor Simplex to create a fiat on-ramp for its Dai decentralized stablecoin. Major decentralized finance (DeFi) player MakerDAO (MKR) partnered with payment processor Simplex to create a fiat on-ramp for its Dai (DAI) decentralized stablecoin.According to an announcement on Mar. 3, the partnership makes it possible to buy Dai with the credit and debit cards of Simplex’s partner firms. Maker’s business development representative in Europe,…

Read more