Honduras is the latest country for a city to accept cryptocurrency as a form of currency, as the tourist town of Santa Lucia now has a “Bitcoin Valley”. In the city, which is located a short distance from the capital Tegucigalpa, businesses can accept cryptocurrency for payment. The launch is an effort to attract more tourists.
Other countries, including El Salvador, have benefited by becoming more cryptocurrency-friendly, attracting both tourists and businessmen. Initially, 60 businesses will be able to accept cryptocurrencies and will be trained in this direction before expanding to other areas and businesses. The Honduran organization Blockchain Honduras, the Guatemalan crypto exchange Coincaex, the Technological University of Honduras and the municipality of Santa Lucia are working together on this effort. Leonardo Paguada, founder of the Blockchain Honduras organization, said that merchants will be able to accept instant payments in the local currency.