El Salvador continues to issue passports to investors

Recently, seven foreigners have collected their Salvadoran passports as part of the “Adopting El Salvador” programme. This innovative project, announced via the social network X (formerly known as Twitter) by Bitcoin Beach, has simplified the process for those wishing to donate bitcoin to the country.

According to the publication, participants expressed satisfaction with the simplified process and were happy to contribute through bitcoin. El Salvador is expected to reach the threshold of 1,000 citizenships before the price of BTC reaches a new all-time high.

The program, called “Adopting El Salvador – Apply for the Freedom Visa,” was presented by the Salvadoran government on December 7. The Deputy Minister of Foreign Affairs, Adriana Mira, and the issuer of the stablecoin Tether (USDT) collaborated on this initiative.

Investors interested in obtaining citizenship must commit to an investment of “$1 million in bitcoin or USDT”. The process begins with a non-refundable deposit of $999 in bitcoin, which is then credited to the full amount.

Although the total amount raised has not yet been disclosed, the programme aims to reach $1 billion for El Salvador if all available places are filled. This would allow investors to contribute to the country’s international tourism landscape and catalyse economic growth with a focus on social change.

Paolo Ardoino, CEO of Tether, highlighted the importance of this initiative to support the financial freedom of cities and communities. Being chosen as a technology provider underscores the importance of using technological capabilities to drive innovation and growth in the region.

K. Tovar

Source: Cointelegraph

(Reference image source: Traxer, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram