SAN SALVADOR 鈥 El Salvador is seeking support from cryptocurrency exchange Binance for its implementation of bitcoin as legal tender and the issuance of bitcoin bonds, the Central American country鈥檚 ambassador to the United States said on Wednesday.
Binance Chief Executive Officer Changpeng Zhao is visiting El Salvador and plans to meet President Nayib Bukele on Thursday, ambassador Milena Mayorga told reporters.
Ms. Mayorga said Mr. Zhao鈥檚 visit was a vote of confidence in Bukele鈥檚 decision to adopt bitcoin as legal tender last September, as well as its plan to issue bitcoin-backed bonds.
Mr. Zhao praised El Salvador for taking on a pioneering role in the adoption of bitcoin and said Mr. Bukele鈥檚 presidency would be remembered in 鈥渉eroic鈥 terms for its bold bet on the future.
The country鈥檚 adoption of bitcoin has been beset by public skepticism about the cryptocurrency, which has depreciated substantially since hitting a record high in early November.
On Tuesday, the government said it was delaying its planned issuance of bitcoin bonds. 鈥斅Reuters
