El Salvador, the first country to adopt Bitcoin as legal tender, is seeking support from the world’s biggest cryptocurrency exchange, Binance, on how to foster its bitcoin adoption.
President Bukele to Meet With Changpeng Zhao
The El Salvadorian President, Nayib Bukele, revealed that he would be meeting with Chanpeng Zhao, the founder, and CEO of Binance, on Thursday, March 24.
With his meeting coming amidst news of the El Salvador Bitcoin bond, many speculated that the bond was the subject of discussion. However, President Bukele took to Twitter (NYSE:TWTR) to clarify that it was unrelated to the El Salvador bitcoin bond.
He explained that the bond would be issued by Bitfinex and not Binance. President Bukele tweeted;
I’m a fan of @BitcoinMagazine, please don’t spread @Reuters FUD.The #Bitcoin Volcano Bonds will be issued with @bitfinex.The short delay in the issuance is only because we are prioritizing internal pension reform and we have to send that to congress before. https://t.co/chUGgdDBDcPresident Bukele explained that his meeting with Chanpeng Zhao was to discuss other issues with the Binance chief not related to the bitcoin bond.— Nayib Bukele (@nayibbukele) March 23, 2022
The meeting is said to revolve around El Salvador’s implementation of bitcoin as a legal tender. The Central American country is seeking help on how to foster bitcoin adoption in the country.
CZ is currently in El Salvador and was accompanied by the Salvadoran ambassador to the United States, Milena Mayorga.
On the Flipside
- President Bukele has lashed out at U.S. Senators for proposing a bill to investigate the effects of El Salvador’s bitcoin experiment.
Why You Should Care
Ambassador Mayorga has said CZ’s visit was a vote of confidence in Bukele’s decision to adopt bitcoin as legal tender.
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