when the leading crypto asset dropped below $19K per unit. The Salvadoran government purchased approximately 2,381 bitcoins since the legal tender law was codified last year.
Paolo Ardoino, the CTO at Bitfinex, believes the $1.33 million in crypto assets will help Salvadoran communities that need it most. “This funding demonstrates in real-time bitcoin’s potential to bring prosperity and economic freedom,” Ardoino said in a statement on Thursday. The Bitfinex executive continued:
By providing bitcoin and tether to local communities in El Salvador, we will provide vital support to small businesses while also countering the effects of gang violence that has swept across the country.The blog post also disclosed that Bitfinex Securities El Salvador, S.A. de C.V. is working as the “financial technology provider” for the country’s $1 billion volcano token project.
“Ifinex Inc., the parent company of Bitfinex, is also collaborating with the Government of El Salvador to create a digital assets and securities regulatory framework to regulate, issue, and operate digitized financial instruments in El Salvador,” the company’s blog post concludes. “As well as assist in creating and implementing balanced cryptocurrency legislation and regulation on digitized financial instruments as they promote the growth of the cryptocurrency industry in El Salvador.
I think this kind of thing from bitfinex will help a lot in crypto adoption and further development of bfx, so keep it up!
USDT and BTC investment support will help small businesses a lot!
You'll never hear people using USDC for these kinds of thing because no one trusts them
Like to see bitfinex and tether helping people. More crypto companies should follow their example.
Great to see that tether is supporting small businesses. They want to make a change!
I remember a lot of exchanges mentioned that they would be willing to support El Salvador in adopting cryptocurrencies, so what was the result? El Salvador is only supported by Bitfinex
Bitfinex is probably the only one who almost does not spend money on advertising, but spends it on charity, I am sure that this approach gives back fully to the exchange in the future
I think that this kind of support for small businesses will definitely awaken interest in other countries to the adoption of cryptocurrencies, Bitfinex is doing a great job
Tether is always for crypto adoption, good
This is a great job! Keep going on, Bitfinex.
They are doing great job.. I think it's great that El Salvador crypto project has a support of the strongest company
El Salvador's cooperation with Bitfinex, Blockstream and Tether will bring huge benefits to the country.
Best thiing Ive seen so farr_,,,
Bitcoin and Tether are needed in countries like El Salvador.
SaitaProRelase Saitama EverRise 🚀🚀
There will be EOS too 😉
Gud news 🇸🇻
I think this kind of help from Bitfinex will be useful to them, I hope such projects are being planned for other countries too 😊
Good job🔥🪙🚀💸
This kind of news is what we need right now 😉 And I have goodnews to you as well, go look RealBeastToken and see what I’m talking about. BEASTEVERYWHERE
This is the End of 'West' ..! 🤘☯️🤘
That is so kind
$UNFI $MATIC $LUNC $SHIB 🔥
I guess You know There are better strategies that one can get profit even during dip & rise in Bitcoin, while not guide them through on how to build their portfolios instead? We're aware not all knows this strategies. Well, In my free time I will teach people how to go about it
Howw comee no one is talkingg about thiss
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