Tourist region in Honduras began to accept payment in bitcoin

The municipality of Santa Lucia in Honduras integrated payments in the first cryptocurrency to attract touristsfrom around the world. It is reported by Reuters.

“This will open up more opportunities and attract more people who want to use this currency,” Cesar Andino, manager of the Los Robles marketplace, said.

According to Macrotrends, in 2019 the country's incomefrom tourism amounted to $556 million, and in 2020 fell to $189 million. Now guests of Santa Lucia will be able to pay for goods with bitcoin, the US dollar or the Honduran lempira.

Initially, the Bitcoin Valley initiative was extended to 60 enterprises to test the project. In the future, it is planned to attract more entrepreneurs and districts to participate.

The project was developed jointly by the Technological University of Honduras, the Municipality of Santa Lucia, the Coincaex cryptocurrency consortium and the Honduras Blockchain organization.

“To combat volatility, Bitcoin Valley will allow merchants to receive instant payments in their local currency,” explained Leonardo Paguada, founder of Blockchain Honduras.

Formerly Italian fashion house Gucci and premiumBalenciaga brand has announced the acceptance of bitcoin payments in their boutiques in the United States. A similar initiative was taken by one of the world's largest airlines, Emirates Airlines.

Recall that in September 2021 the governmentEl Salvador legalized bitcoin. The country has 2,381 BTC (~$55 million) on its balance sheet. According to journalists, the cryptocurrency is worth about 50% less than the purchase price.

According to the study, 84.8% of merchants see bitcoin payments as a means to attract customers.

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