Officially from today in Honduras one can visit and incorporate his or her crypto business in the nation’s very first “Bitcoin Valley”, a crypto investor business attraction based just 2o minutes from the capital Tegucigalpa.
Many international crypto businesses are expected to open branches in the valley that can be found in the town of Santa Lucia. Reuters was first to jump to the story, stating that many businesses in the town are currently accepting BTC as payment method.
According to the Market Analyst at eToro, Simon Peters, the move aims to promote the use and spread of BTC and BTC based businesses. He observes that many have thought of this as a publicity stunt, but the reality is that Honduras is taking advantage of the crypto boom to boost its economy. And so is the neighboring El Salvador.
Meanwhile, El Salvador’s tourism sector experienced a jump by 30 percent after the country openly adopted Bitcoin as a legal tender. Yet, this leaves the nation as the mercy of the volatile crypto market, and some new challenges have appeared as a result of the latest BTC price dips. El Salvador adopted BTC as legal tender some 1o months ago.
Honduras’ Bitcoin Valley project will allow the nation to enter the crypto sphere more effectively and expeditiously. Honduras is currently signing 60 new businesses to its Bitcoin valley.