El Salvador to launch world’s first Bitcoin-only banks

     

Nation doubles down on BTC with bold move to integrate crypto into full-service banking

El Salvador is set to make history once again as it prepares to launch the world’s first Bitcoin-only banks, according to an announcement from the country’s official Bitcoin Office. In a post shared via X, the office dubbed El Salvador “Bitcoin Country” and confirmed that “Bitcoin Banks” are on the way – marking a new phase in its unprecedented crypto experiment.

Although specifics remain limited, the initiative is expected to embed Bitcoin even deeper into the nation’s financial ecosystem. Reports suggest that legislation may already be in place to authorize banking services fully denominated in BTC, offering Salvadorans direct access to financial services built around the digital currency.

Bukele’s advisers tout Bitcoin’s role in future global finance

Max Keiser, Senior Bitcoin Adviser to President Nayib Bukele, highlighted the monumental scale of the vision in a statement to BeInCrypto. “Bitcoin continues its unstoppable vector in El Salvador,” Keiser said. “Bitcoin is eating all the world’s $400 trillion in stored value while rendering inert all the central banks and their doomed, archaic, 3-letter agency helpers.”

Keiser and his wife Stacy Herbert, who leads the Bitcoin Office, have played central roles in shaping El Salvador’s pro-Bitcoin policy since the nation became the first in the world to adopt BTC as legal tender in 2021.

The creation of Bitcoin Banks signals the next step in El Salvador’s campaign to become the global hub for Bitcoin innovation. If successful, the move could redefine traditional banking models and inspire other countries to explore similar BTC-native financial frameworks.