El Salvador has authorised banks to store and offer Bitcoin
Financial companies in El Salvador with capital of $50 million or more can now obtain investment bank status. This will be a separate licence, unrelated to the usual banking licence. This was announced by Juan Carlos Reyes, head of the Digital Assets Commission.
The new banks will be able to offer services to clients with more than $250,000 in their accounts. Their portfolio will include cryptocurrency-based products, including Bitcoin. According to Member of Parliament Dani González, this system expands traditional banking services and opens up new opportunities for large investors.
The government expects that these changes will make the country more attractive to businesses and strengthen its position as a regional centre for crypto finance. At the same time, the IMF has previously confirmed that it will continue to cooperate with El Salvador to support the state's current volume of Bitcoin, but no new purchases are planned at this time.
If you want to obtain a Salvadoran crypto licence, please contact our experts. We are ready to accompany you through all stages of the process.
