As per the reports of the Latin American digital newspaper El Faro, the government of El Salvador has plans to bring their stable cryptocurrency which can be used for services.
According to the reports, Yusuf Bukele and Ibrajim, the brothers of the President of the country Nayib Bukele were seen discussing with the investors that they are planning to launch their stable cryptocurrency by the end of 2021.
As per the reports, the brothers of the president also met with the representatives of Cardano, Algorand, and WhizGrid. This news comes few weeks after the central American country approved Bitcoin’s law proposed by their President.
In June 2021, El Salvador becomes the first country in the world to accept Bitcoin (BTC) as a legal tender. Bitcoin (BTC) is a legal tender in El Salvador and all businesses will accept it as a mode of payment by September.