Coincaex to Launch Operations in El Salvador

After El Salvador approved a legal framework that recognizes Bitcoin as a legal tender, the cryptocurrency exchange Coincaex announced that at the end of June it will open an office in the country.

Wednesday, June 23, 2021

On June 8, the Legislative Assembly of El Salvador approved the Bitcoin Law, a legal framework that recognizes this digital currency as legal tender in the country.

This fact has attracted attention, as the Central American country has become the first territory to recognize the cryptocurrency as a legal tender means of payment.

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Some investors are targeting El Salvador. Elmundo.sv reviews that the Guatemalan Coincaex "... will take advantage of the fact that El Salvador will be the first country in the world to adopt bitcoin as legal tender and that it will have the same circulation obligation as the US dollar."

The article adds that "... Coincaex will be the first 'bitcoin exchange' in El Salvador with a start of operations planned for the end of June. The company announced that for now it is designing educational activities on different platforms so that 'Salvadorans learn how to use cryptocurrencies and identify the development opportunities that best fit their capabilities'."

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