El Salvador Plans Historic Launch of World’s First Bitcoin Bank

The initiative, confirmed by the government’s “Bitcoin Office,” would mark the first time a country has established a fully dedicated Bitcoin financial institution. While the launch date and operational details remain under wraps, officials have hinted that all services could be conducted in BTC, from deposits and loans to corporate banking solutions.

The move is seen as part of President Nayib Bukele’s ongoing push to position El Salvador as a global hub for Bitcoin innovation. However, the project faces hurdles, including resistance from the International Monetary Fund (IMF), the absence of tailored global regulatory frameworks for Bitcoin banking, and the challenges of navigating BTC’s volatility.#bitcoin #BitcoinBank