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El Salvador Vice President: Bitcoin Is Driving the ‘Rebirth of Our Country’

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El Salvador’s Vice President, Félix Ulloa, has expressed his belief that Bitcoin’s adoption is playing a pivotal role in the country’s economic and political resurgence.

In a new interview with Forbes, Vice President Ulloa described it as a driving force behind a transformation that is fueling tourism, investment, and economic growth.

Ulloa stated, “Without a doubt, tourism and the use of digital currencies go hand in hand and are a sign of that future and the rebirth of our country.”

He went on to emphasize that Bitcoin’s adoption has facilitated an open and borderless financial system, unlocking new opportunities for Salvadorans and the nation as a whole that have outweighed an increase in international criticism. 

“There were reactions in both directions. Some multilateral organizations initially made objections. Still, the enthusiasm that started in the sphere of the digital economy, with bitcoiners, where El Salvador, having positioned itself as the first country to adopt a cryptocurrency as legal tender, was at the forefront and attracted many investors who are in fact installed in Salvador,” he explained.

El Salvador’s journey into the world of Bitcoin gained significant attention when it became the first country to adopt Bitcoin as legal tender in September 2021. This historic move, driven by President Nayib Bukele, enabled citizens to transact in Bitcoin, fostering financial inclusion and providing access to a global financial ecosystem.

The combination of financial inclusion, tourism growth, and increased investment demonstrates the potential of Bitcoin to stimulate economic development and inspire other nations to explore innovative approaches to their financial systems.

​ New statements from El Salvador Vice President Felix Ulloa underscore the belief that Bitcoin is driving positive change in the country. 

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Forbes Predicts 1700% Shiba Inu Coin Price Rally, Could Shiba Shootout Also Explode? – Branded Spotlight Bitcoin News

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Shiba Inu has once again captured the spotlight with the token seeing a significant price rise with the recent market uptick. According to a recent Forbes

​ Shiba Inu has once again captured the spotlight with the token seeing a significant price rise with the recent market uptick. According to a recent Forbes 

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Mt Gox Funds Arrive at Kraken: Bitcoin and Bitcoin Cash Distributions Expected Soon

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According to a recent update from Kraken, the centralized cryptocurrency exchange has received funds from the Mt Gox trustee.

​ According to a recent update from Kraken, the centralized cryptocurrency exchange has received funds from the Mt Gox trustee. 

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Bitso to Bring Bitcoin Lightning to its 8 Million Users via Lightspark

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Leading Latin American crypto exchange Bitso has partnered with Lightspark to integrate the Bitcoin Lightning Network onto its platform. This will introduce faster, cheaper Bitcoin transactions to Bitso’s user base of over 8 million retail clients and 1,700 institutional customers.

Bitso will leverage Lightspark’s infrastructure to enable Lightning transfers. Lightspark will host the nodes while Bitso retains control of the private keys in a remote signing setup.

The integration comes as Lightning Network adoption spreads globally, making payments with Bitcoin faster, smoother and less expensive.

According to Bitso’s research, 53% of crypto wallets in Latin America hold Bitcoin. Trading pairs against local fiat currencies are also widely used. Thus, Lightning is a natural fit to upgrade Bitso’s existing infrastructure.

Daniel Vogel, co-founder and CEO of Bitso, said, “We’re thrilled to partner with Lightspark to bring Lightning to our platform. This advances our mission of making crypto useful by delivering faster, more cost-effective, and transparent money transfers.”

With Lightning, Bitso can offer near-instant Bitcoin transactions at a fraction of the cost of regular on-chain Bitcoin payments. This unlocks new potential payment and remittance solutions for both retail and enterprise clients.

Lightspark CEO David Marcus said Bitso “shares our vision of building open payments for the Internet. This gets us closer to that goal. We know people across Latin America want this solution.”

As a pioneering Latin American exchange with millions of users, Bitso’s integration of Lightning is a milestone in increasing Bitcoin adoption. 

​ Leading Latin American crypto exchange Bitso has partnered with Lightspark to bring faster, cheaper Bitcoin Lightning transactions to Bitso’s 8 million users. 

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