Bolivia and El Salvador sign crypto agreement to develop digital finance framework
Main Idea
Bolivia and El Salvador have signed a historic bilateral agreement to promote digital finance and economic growth, following Bolivia's repeal of its 2024 crypto ban and rising digital transaction volumes.
Key Points
1. The agreement aims to boost Bolivia's struggling economy and marks a strategic shift for the country.
2. The deal was signed by Bolivia's interim Central Bank president Edwin Rojas Ulo and El Salvador's National Commission of Digital Assets head Juan Carlos Reyes García.
3. Bolivia recorded $294 million in digital transactions in the first half of 2025, indicating rising crypto activity.
4. The partnership includes a framework for technological and political collaboration in digital finance.
5. El Salvador, the first country to adopt Bitcoin as legal tender, is a key partner in this initiative.
Description
Bolivia has inked a historic bilateral agreement with El Salvador to promote cryptocurrency adoption , taking a significant step toward modernising the banking system. The agreement, which is intended to boost Bolivia’s struggling economy and promote financial inclusion, follows in the footsteps of El Salvador, the first country in the world to make Bitcoin legal tender. The deal marks a strategic shift for Bolivia, which is in the midst of an economic crisis and running at historically low inte...
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