Report Reveals El Salvador Plans For Issuing A Stablecoin

El Salvador recently became the first country to adopt Bitcoin as a legal tender in financial transactions, and now it plans to issue a stablecoin. The President, who calls himself “the coolest president in the world,” took the first step to equip his citizens with a digital means of paying for goods & services. Related Reading | Ether EFT Gets Approval From Brazilian Securities Regulator The world is waiting for the commencement of his plans by September. Moreover, the law for bitcoin legalization has already been signed. While the wait continues for the execution, the president’s brothers make a bigger plan for the country. From the latest news on the country, it seems that the president’s brothers are planning the development of a stablecoin as they’re already presenting the idea to investors. The news came from the reports of a digital newspaper in Latin America, El Faro. The information has it that El Salvador consumers will use stablecoin for services. Comments From Bukele Brothers According to what the president brothers revealed to investors, the crypto, which they call the “Colon dollar,” will become a reality before 2021 ends. Ibrahim & Yusuf Bukele had pitched the proposal to investors, and the report from the digital newspaper also pointed to the video recordings about it. In the proposal discussion, the brothers told the prospective investors that they&#8...