Honduras Establishes Bitcoin Valley in Santa Lucia to Boost Crypto Opportunities

Honduras has entered the cryptocurrency trend after launching “Bitcoin Valley” in Santa Lucia meant to spur more opportunities in the digital asset space, according to Reuters. 

As a result, the tourist town of Santa Lucia has shifted to a Bitcoin city because business owners are adopting crypto payments to boost tourism.

Cesar Andino, the manager of Los Robles shopping square, pointed out:

“It will open more opportunities and attract more people who want to use this currency.”

Santa Lucia is strategically located because it is just 20 minutes from the nation’s capital Tegucugalpa.

The “Bitcoin Valley” project was jointly developed by Santa Lucia’s municipality, the Technological University of Honduras, the Guatemalan cryptocurrency exchange consortium Coincaex, and the Blockchain Honduras organization. 

Therefore, the initiative will initially target 60 businesses to be trained about cryptocurrencies and how to use them as marketing tools for their services and products. The project is expected to be rolled out to more enterprises in Santa Lucia and nearby areas. 

Ruben Carbajal Velazquez, a professor at the Technological University, welcomed the “Bitcoin Valley” concept and said:

“Santa Lucia’s community will be educated to use and manage cryptocurrencies, implementing them in different businesses in the region and generating crypto-tourism.”

Since El Salvador accepted Bitcoin as legal tender in September last year, crypto interest in Latin America has soared.

For instance, a recent study by Mastercard disclosed that more than 50% of consumers in Latin America were participating in crypto transactions. The payments giant pointed out:

“51% of consumers in the region have already made a transaction with crypto assets, and more than a third say they have made a payment for an everyday purchase with stablecoin.”

Therefore, Latin Americans see cutting-edge technologies like crypto as an ideal payment option.

Image source: Shutterstock