In American stores installed 50 cryptomats for money transfers in Salvador. This was announced by the President of the country of Niaba Kukele in twitter . With the help of apparatuses in the US, Salvadorians will be able to transfer money to their homeland without commission.
about 70 percent of the population of Salvador use cross-border translations and payments. In 2020, six billion dollars sent to cash transfers to the country. According to CNBC calculations, Bitcoin’s legalization will deprive Western Union and Moneygram payment systems up to $ 400 million a year they received for the commission between translations. According to Cryptanalitics, Willie Wu, Salvador loses 1.5 percent of GDP at the service commissions. Payments in Bitcoins are designed to solve this problem.
In early June, Salvador became the first country in the world, recognizing the Bitcoin to a legal means of payment. The authorities of the country acquired bitcoins by almost $ 26 million (about 1.8 billion rubles), and in the future they are going to buy even more. In early September, the building of the Supreme Court in San Salvador passed protests against the use of cryptocurrency. Opponents of legalization Bitcoin fear the growth of financial instability and the number of illegal cryptocurrency transactions.
In mid-September, in the country suspended the registration of new users of the Bitcoin wallet Chivo and forbidden to download the application to new smartphones models. According to President Salvador Niaba Kule, the authorities did not have time to prepare the necessary infrastructure for the use of cryptocurrencies.