Honduras became one of the latest countries to implement the 'Bitcoin Valley' initiative in its transactions.
It is understood that a small tourist town, Santa Lucia accepts the digital currency Bitcoin (BTC) in daily transactions to increase its tourism revenue.
Commented mall owner Cesar Andino, the initiative opens up more opportunities for crypto enthusiasts to use their assets as well as bringing more tourists into the city.
Andino further added that the acceptance of transactions in BTC opens new market opportunities and at the same time new customers, in addition to expressing the excitement of the transition to a more globalized era.
According to sources, the city began accepting BTC on July 28 in addition to the United States (US) dollar and the Honduran Lempira.
For information, the municipal government of Santa Lucia developed the 'Bitcoin Valley' program with Coincaex crypto application, Blockchain Honduras and the University of Technology Honduras.
Further details Coincaex provides crypto payment equipment and services while Blockchain Honduras educates about crypto wallets.
For an overview of the transaction, through Coincaex the customer will send coins and the BTC value will be exchanged in Lempira immediately to avoid losses from price fluctuations.
In the meantime, local traders are seen welcoming the program in the hope that it will bring in more customers after the Covid-19 pandemic era.
This is not the first time a city has accepted BTC transactions, with El Salvador being the first to adopt BTC as the government's official currency.
In addition, Guatemala also implemented its own initiative through the construction of Lake Atitlan tourism area called 'Bitcoin Lake'.
