Residents of Santa Lucia, a town in Honduras, are trying to attract crypto investors to tour the region through its Bitcoin Valley initiative. As part of this program, some residents are accepting Bitcoin as a means of payment for services and products. The initiative is expected to improve tourism revenue in about sixty businesses. Â
The initiative began on July 28 in the small Honduran town, allowing anyone to purchase items or enjoy services while collecting Bitcoin as a means of payment. BTC joins the Honduran Lempira and US dollars as the legal tender in that region. Â
Residents like Cesar Andino, an owner of a mall in the small Honduran town, believe that the initiative will benefit business owners by offering them more opportunities. According to reports, Andino stated,Â
“By accepting bitcoin, we can open another market and win more customers. We must globalize. We cannot cut ourselves off from technology and we cannot be left behind if other countries are already doing it.”Â
The municipal government of Santa Lucia administers the Bitcoin Valley program in collaboration with the Blockchain Honduras, Coincaex crypto exchange, and the Technological University of Honduras.Â
The role of Blockchain Honduras is to educate residents on ways to utilize crypto wallets in their daily activities, while Coincaex is expected to provide the necessary technical know-how, services, and equipment required to ensure that crypto payments are seamless. Â
When a merchant accepts BTC, they can exchange it for Lempira at any time on the Coincaex exchange.
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