The trust will allow local entrepreneurs to instantly convert bitcoins into US dollars.
On MondayThe government of El Salvador has agreed to allocate $150 million to create a bitcoin trust that will handle exchanges between the US dollar and bitcoin.
According to the Minister of Economy, the size of the fund will increase in the future depending on demand.
In June, El Salvador passed a law that establishes Bitcoin as a legal means of payment on an equal basis with the dollar. The law comes into force on September 7.
According to the results of recent polls, more than 60% of the country's residents do not support this initiative. Local businessmen do not want to accept Bitcoin, and retirees do not want to receive payments in cryptocurrencies.
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Based on materialswww.coindesk.com
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