El Salvador to Establish the World’s First Bitcoin Banks

El Salvador’s Bitcoin revolution is entering a bold new phase. The country’s official Bitcoin Office has announced the creation of the world’s first “Bitcoin Banks”, referring to the nation as “Bitcoin Country.” This initiative aims to deeply integrate BTC into the country’s financial system. While details remain scarce, it is speculated that these banks could provide fully Bitcoin-denominated banking services.

Senior Bitcoin Adviser to President Nayib Bukele, Max Keiser, captured the vision, stating: “Bitcoin is eating the world’s $400 trillion in stored value while rendering central banks obsolete.” Keiser and his wife Stacy Herbert have been key architects of El Salvador’s pro-Bitcoin policies since BTC was adopted as legal tender in 2021.

The launch of Bitcoin Banks could be a pivotal milestone in El Salvador’s mission to become the global epicenter for Bitcoin innovation. Once operational, the nation will not only lead in adoption but also in Bitcoin-based banking.