- Honduras tourist town started accepting Bitcoin Payment on July 28, 2022.
- SEC of Honduras accepted Bitcoin and cryptocurrencies as legal tender in the first quarter of 2022.
A small city of Honduras popularly known for its tourist spots began with the initiative to accept Bitcoin Payment as part of the “Bitcoin Valley.”
The initiative of opting for Bitcoin Payment is believed to decrease the revenue generated by tourists. This step is taken to increase tourist attraction and their spending.
As per reports of a local news firm in Honduras, LA PRENSA, many residents of Santa Lucia, like owners of a shopping complex and owner of one of the renowned shopping complex, extended their views on adding a new payment method in the form of Bitcoin Payment.
While talking to local media, a shopping mall owner in Honduras town, Cesar Andino, mentioned his point of view on the Bitcoin payment addition method “It will attract more people who want to use this currency as a payment mode.”
Further extending his views, Cesar Andino stated, “Accepting Bitcoin will allow us to open another market and win more customers. We have to globalize. We cannot close ourselves off from technology and not be left behind when other countries are already doing so.”
According to the reports of July 28 states, Patrons of local area shops are allowed to pay in the form of US dollars, Honduran Lempira, or BTC (Bitcoin).
Honduras launches 'Bitcoin Valley'
Over 60 businesses have adopted #bitcoin in the small town of Santa Lucia. They will get training in the new technology and how to market their products and services.https://t.co/O8nh543ehG
— Documenting Bitcoin
The initiative began with the alliance of Blockchain Honduras(Education users for using crypto wallets) and Coincaex, which will provide types of equipment and a high level of interface or ecosystem to carry out Bitcoin transactions.
Businessmen and shopkeepers of Honduras believe that the adoption of bitcoin payment would help increase the tourist base in the town, and it will also help to improve the financial condition of the town. And others believed that the initiative would prove to be the role for shopkeepers and others to adopt the same.
Source: https://www.thecoinrepublic.com/2022/08/01/honduras-used-bitcoin-valley-to-attract-crypto-investor-tourists/