LATAM crypto news: El Salvador prepares Bitcoin banks, Méliuz debuts US ADR program
Main Idea
El Salvador is advancing its Bitcoin integration with plans for Bitcoin banks, while Brazilian fintech Méliuz expands internationally through a US ADR program.
Key Points
1. El Salvador is preparing to establish the world's first 'Bitcoin Banks,' further integrating Bitcoin into its financial system.
2. Max Keiser, Senior Bitcoin Advisor to President Nayib Bukele, highlighted the project's scope, emphasizing El Salvador's pro-Bitcoin stance since 2021.
3. Méliuz, a Brazilian fintech, filed for a Level I ADR program with the SEC, enabling US investors to trade its shares over-the-counter via JPMorgan.
4. The ADR program aims to enhance Méliuz's visibility and liquidity, aligning it with other Brazilian companies in the US market.
5. A public hearing in Brazil's Congress is scheduled to discuss Bitcoin's potential as a reserve asset amid global financial uncertainties.
Description
The highlights of the week in terms of crypto in LATAM are that El Salvador is preparing to launch the world’s first Bitcoin banks, a significant step toward integrating BTC into its financial system. Meanwhile, Brazilian fintech Méliuz takes a significant step toward international expansion by filing for a Level I American Depositary Receipt (ADR) program, allowing US investors to trade its shares over the counter. These examples demonstrate the tremendous momentum for Bitcoin acceptance and in...
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