Wed. Dec 6th, 2023

The Savior continues to bet on the creation of a Bitcoin-based ecosystem to significantly improve the exchange of value within the country and offer new, more efficient payment methods for salvadorans. Today we will be talking about a new card powered by the Lightning Network that will be powered by a payment processor called “CoinCorner” coming to El Salvador with the aim of providing a simpler BTC retail experience.

“Bolt Card” will be the new Bitcoin card for salvadorans.

The Savior, being the first country to adopt Bitcoin as legal tenderhas decided to invest in creating a payment structure that will allow Bitcoin holders to be able to spend their holdings in all kinds of establishments using a physical cryptocurrency card, under the “tap-to-pay” functionality that allows the execution of transactions by placing said card on top of a reader created by the provider CoinCorner. This company has also partnered with IBEX, a lightning infrastructure services company, to add payment support to all businesses in the country and thus allow users to use the so-called “Bolt Card” to make daily purchases in a large number of establishments throughout the Salvadoran territory.

News from El Salvador

After a historic event in September 2021 when the president Nayib Bukele established Bitcoin as legal tender, El Salvador continues to grow in crypto and there are currently just over 5 million users using government-backed wallets, showing high numbers of commerce and usability in different areas, from commerce to sending remittances.

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By Farwa Raza

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