The launch of the Bitcoin Embassy was discussed recently, as mentioned in a tweet by the Ambassador of El Salvador to the US.
El Salvador is in the news again for positive developments in the crypto industry: this time for opening a Bitcoin Embassy in the United States of America. El Salvador has collaborated with the Government of Texas in the US to engage in fresh cooperative initiatives to encourage Bitcoin’s adoption. This is another positive step taken by El Salvador on its road to enhancing its Bitcoin strategy.
The development was announced in a tweet by the Ambassador of El Salvador to the US, Milena Mayorga. The tweet stated, “In my meeting with the assistant secretary of the government of Texas, Joe Esparza, we discussed the opening of the second Bitcoin Embassy and the expansion of commercial and economic exchange projects.”
Former Blockstream Chief Strategy Officer Samson Mow claims that the new Bitcoin Embassy is the next stage in the adoption of Bitcoin by cities and nation-states. According to him, such projects entail international collaboration to create new initiatives like forging partnerships amongst nations that have accepted Bitcoin.
El Salvador also established the first Bitcoin Embassy in Lugano, a city in southern Switzerland, in October 2022. The two pro-crypto countries began working on establishing a physical presence of the government as part of the measures to encourage collaboration in educational and research institutions connected to Bitcoin. The news of the latest Bitcoin Embassy in Texas comes just a few months after the development in Switzerland.
In recent times Texas has emerged as one of the most crypto-friendly regions of the US, being home to several Bitcoin miners. The state is also implementing a crypto-friendly bill that would promote and help the blockchain industry grow in Texas.