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Home Science & Technology Startup Nation Tech Bits

Honduras launches 'Bitcoin Valley in Santa Lucia tourist enclave

by  Reuters and ILH Staff
Published on  07-31-2022 10:06
Last modified: 07-31-2022 10:06
Bitcoin rises to 3-year peak, all-time high in sightAFP / Jack Guez

A physical bitcoin | File photo: AFP / Jack Guez

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People can pay for a slushie with crypto in the streets of "Bitcoin Valley," a project in the Honduran tourist enclave of Santa Lucia through which the country has entered the digital currency trend.

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The small town in the mountains, 20 minutes from the capital Tegucigalpa, has become a bitcoin city.

Owners of businesses big and small in Santa Lucia are adapting to handle cryptocurrencies as payment, hoping to attract more tourism.

The "Bitcoin Valley" project targets 60 businesses to initially get trained and adopt cryptocurrencies to market their products and services, expecting to spread these practices to more enterprises and nearby areas.

The initiative was jointly developed by the Blockchain Honduras organization, the Guatemalan cryptocurrency exchange consortium Coincaex, the Technological University of Honduras and Santa Lucia's municipality.

Ruben Carbajal Velazquez, professor at the Technological University, said "Santa Lucia's community will be educated to use and manage cryptocurrencies, implementing them in different businesses in the region and generating crypto-tourism."

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