If Mexico accepts bitcoin as currency “the explosion in use would be extraordinary”

Mexico Bitcoin

Two Central American nations have taken another step to join El Salvador in accepting bitcoin as legal tender.

In Honduras, a special economic zone on the Caribbean resort island of Roatán has officially begun accepting bitcoin. The zone, called “Honduras Prospera”, was created in 2020 in order to encourage investment and autonomous economic growth in the troubled nation. The Honduran government has officially enabled the use of bitcoin by companies, individuals and the local government. The economic zone will also be able to issue bonds in bitcoins.

Meanwhile, in Mexico, the President has invited former Blockstream CSO Samson Mow to the country to discuss the possibility of implementing bitcoin as legal tender. The message was conveyed by a Mexican senator, Indira Kempis, who is closely associated with legislative attempts to achieve greater inclusion of cryptocurrencies in the Mexican financial system.

“While plans for bitcoin in Mexico are still in their early stages, the potential adoption of the crypto asset as legal tender in the nation would be a game changer,” comments Simon Peters, an analyst at eToro. “Both El Salvador and Honduras are relatively small in the overall scheme of things, but Mexico is a major nation with almost 130 million citizens. If the country were to make bitcoin legal tender, the potential for an explosion in usage It would be extraordinary,” he adds.