The central banks of Honduras and Guatemala are studying the possible launch of their own digital currencies as El Salvador legalized bitcoin (EXANTE: Bitcoin), Reuters reports.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
Honduras central bank President, Wilfredo Cerrato, said that the watchdog's board of directors approved the study to determine the "feasibility of conducting a pilot test issuing its own digital money or a central bank digital currency."
He also said the adoption of cryptocurrencies in Central American countries is a prerogative for the Central American Monetary Council. Guatemala's central bank Vice President, Jose Alfredo Blanco, said the bank's potential CBDC would be called iQuetzal.
Earlier in September, El Salvador officially legalized bitcoin as legal tender. The country's president, Nayib Bukele, later announced the purchase of 400 bitcoins by the country's authorities. The purchase became part of a new $150 million fund approved by the country's authorities aimed at guaranteeing the exchange between bitcoins and dollars.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.