Cryptocurrency remittances fall 26.5 % in El Salvador
Data published by the Central Reserve Bank revealed the drop in remittances in cryptocurrencies during the first half of 2023
The receipt of remittances through cryptocurrency wallets in El Salvador experienced a significant decrease of 26.5 % during the first half of 2023, according to data from the Central Reserve Bank.
Official figures show that between January and June of this year, the Central American country received a total of 46.66 million dollars in remittances through cryptoactive digital wallets, which represents a reduction of 16.84 million dollars compared to with the 63.5 million dollars received during the first half of 2022.
In the month of June, the state bank reported an income of 7.01 million dollars through digital cryptocurrency wallets, while in the same month of the previous year the figure reached 11.52 million dollars, which represents a year-on-year decrease of 39.14 %.
The data indicates that monthly income through this digital mechanism has been consistently lower in 2023 compared to the previous year.
These incomes between January and June represent only 1.16 % of the total of 4,019.75 million dollars in remittances that El Salvador has received in said period.
It is relevant to remember that in September 2021, El Salvador became the first country in the world to adopt bitcoin as legal tender along with the US dollar.
However, a survey carried out by the University Institute of Public Opinion of the Central American University (Iudop) in mid-January of last year revealed an “almost zero use” of bitcoin in El Salvador during 2022 and a persistence of “unfavorable opinions”. among the population about the cryptoactive.
K. Tovar
Source: Bancaynegocios
(Reference image source: rc.xyz NFT gallery, Unsplash)
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