El Salvador Don Launch Bitcoin Banks to Boost Crypto Integration
El Salvador dey plan to launch Bitcoin banks through im National Bitcoin Office, wey aim to join digital assets with traditional finance. Dem Bitcoin banks go dey operate alongside the existing services, go support BTC and USD transactions, require at least $50 million capital, and e go allow foreign shareholders. Based on the 2021 law wey put Bitcoin as legal tender plus the Chivo Wallet platform, the reform still dey relax rules for private banks wey dey handle digital assets. El Salvador get more than 6,250 BTC (wey value over $730 million) and dem dey pause new buys under IMF agreement. The country wan attract foreign crypto investment, expand financial inclusion, and strengthen im national Bitcoin reserves. Analysts talk say e get risk like volatility and regulatory issues, but dem dey see the move as possible model for crypto banking for emerging markets.
Bullish
Di launch of Bitcoin banks dey create regulated way for BTC, e increase institutional capital requirement and open foreign investment, all dis fit raise demand and liquidity for Bitcoin. For short term, volatility and regulatory uncertainty fit still dey, but di long-term effect of better infrastructure and wider adoption go dey support upward price pressure.