Bitcoin launches in El Salvador, Honduras, and Guatemala.

Guatemala and Honduras are currently studying digital currencies from central banks and how they could be of benefit to their respective monetary systems.
Two Central American countries, Guatemala and Honduras, are following the lead of their neighbor, El Salvador, in adopting Bitcoin (BTC). But they are going a different route. Instead of accepting an existing cryptocurrency as a legal currency, like El Salvador, the central banks of Honduras, Guatemala, and Guatemala are currently studying central banking digital currencies or CBDCs. Jose Alfredo Blanco, vice president of Banco de Guatemala, said that the digital currency, iQuetzal, would be named after the Guatemalan national bird. However, the central banks aren’t eager to incorporate a new currency into their financial system without proper preparation. Blanco said that the committee to investigate a central bank’s digital currency was formed six months ago and that it will take a while to complete the investigation phase. Central bank digital currencies are gaining popularity and interest in countries all over the world. The eNaira, Nigeria’s CBDC is due to launch on October 1, the country’s 61st Independence Day. The Ukrainian government is also moving ahead with its CBDC plans, giving the National Bank of Ukraine authority for a digital currency.

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