El Salvador To Begin Offering Bitcoin-Backed Loans for Businesses
While there are many Bitcoin maximalists and enthusiasts, they all fall short of one particular person who has done the most to make the most of the king coin. Nayib Bukele, who dubbed himself as the ‘CEO of El Salvador’ is pushing the boundaries and making real-world implementations of the digital currency.
Bitcoin Powered Loans
The Bitcoin enthusiast government is looking into more ways to leverage the use of digital currency to support their nation’s growth.
A Facebook live discussion held yesterday titled ‘Bitcoin loans with lower interest rates, had Monica Taher, the head of Technological & Economic International Affairs at the Government of El Salvador as its guest but she did not disclose much about the loans yet.
But one thing that did come forward is that these loans are going to be implemented using the El Chivo wallet. The official Bitcoin and Dollar wallet of the Government of El Salvador, El Chivo has witnessed a skyrocketing rate of adoption.