Honduras Launches ‘Bitcoin Valley’ — 60 Businesses Accept BTC to Boost Crypto-Tourism – Featured Bitcoin News

Honduras Launches ‘Bitcoin Valley’ — 60 Businesses Accept BTC to Boost Crypto-Tourism – Featured Bitcoin News

Bitcoin Valley, the first bitcoin city in Honduras, launched in Santa Lucia. Businesses in this area will accept bitcoin for payments. “In Santa Lucia, we will all participate in this project… Accepting bitcoin will open up another market for us and win more customers,” said a local business owner.

Bitcoin Valley: First Bitcoin City in Honduras

Bitcoin Valley, the first bitcoin city in Honduras, was launched in the small Honduran tourist town of Santa Lucia, located 20 minutes from the capital Tegucigalpa.

The initiative was jointly developed by Blockchain Honduras, the Guatemalan cryptocurrency exchange Coincaex, the Technological University of Honduras, the Decentral Academy and the municipality of Santa Lucia. Blockchain Honduras announced the launch of Bitcoin Valley on Thursday.

Cesar Andino, owner of Santa Lucia’s Los Robles shopping plaza where several commercial establishments operate, will accept bitcoin in addition to US dollars and Honduran lempiras. He told La Prensa last week that he was waiting to get a point-of-sale (POS) device that would allow him to accept the cryptocurrency, adding:

In Santa Luca, we will all participate in this project… Accepting bitcoins will open up another market for us and win more customers.

“We have to globalize. We cannot close ourselves off from technology and we cannot be left behind when other countries are already doing it,” he added.

Carlos Leonardo Paguada Velasquez, founder of Blockchain Honduras and representative of the Central American Association of Cryptocurrency Users (Acucrip), told the publication a few days before the official launch of Bitcoin Valley:

About 60 companies will start with the Bitcoin Valley project.

He noted that the owners of these businesses have been trained by the Decentral Academy on the use of Bitcoin and the technology behind it.

Coincaex provides POS devices to merchants to enable them to accept BTC. Regarding bitcoin volatility, Paguada explained that Coincaex “takes all the risks.”

For example, he said that if a family buys pupusas at a restaurant in Santa Luca and pays in bitcoins, the equivalent amount of the purchase in lempiras will be deducted from the family’s bitcoin wallet. Coincaex will receive BTC and transfer the payment in Lempira to the restaurant. “Business owners will not receive bitcoin. They will receive coins from Coincaex,” he explained.

Ruben Carbajal Velazquez, a professor at the Technological University, was quoted by Reuters as saying, “The community of Santa Lucia will be educated to use and manage cryptocurrencies, implementing them in various businesses in the region and generating crypto-tourism.”

Tags in this story

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What do you think about the Bitcoin Valley initiative in Honduras? Let us know in the comments section below.

Honduras Launches ‘Bitcoin Valley’ — 60 Businesses Accept BTC to Boost Crypto-Tourism – Featured Bitcoin News

Kevin Helms

An Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in bitcoin security, open-source systems, network effects, and the intersection between economics and cryptography.




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