JAKARTA – The government of El Salvador is seeking support from the cryptocurrency exchange, Binance, for the implementation of bitcoin as legal tender and the issuance of bitcoin bonds. This was revealed by, Milena Mayorga, Ambassador of Central America to the United States said on Wednesday, March 23.
Mayorga also explained that Binance's Chief Executive Officer, Changpeng Zhao, is rumored to be visiting El Salvador and plans to meet with El Salvador's President, Nayib Bukele, on Thursday, March 24.
Mayorga said Zhao's visit was a vote of confidence on Bukele's decision to adopt bitcoin as legal tender in September 2021. So did his plans to issue bitcoin-backed bonds.
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Zhao credits El Salvador's move for taking a pioneering role in bitcoin adoption. He also said the Bukele administration would be remembered in "heroic" terms for its bold stakes on the future.
But bitcoin adoption in the country has been beset by public skepticism about the cryptocurrency, which has depreciated substantially since hitting record highs in early November.
On Tuesday, the government of El Salvador also said it was delaying plans to issue bitcoin bonds.
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