El Salvador could set a new milestone in global financial history by inaugurating its first bitcoin banks before the end of this year. This was stated by Stacy Herbert, director of the National Bitcoin Office (ONBTC), during the fourth anniversary of the historic Bitcoin Law.
At an event held at the National Library of El Salvador (BINAES), Herbert assured that the transformation of the Salvadoran banking system is already underway, thanks to the recent approval of the Investment Banking Law, a piece of legislation that establishes the legal framework for institutions that will operate directly with bitcoin and other digital assets.
🎙️ Key Statement:
“Bitcoin banks are coming,” said Herbert. “We expect the first ones to arrive by the end of the year… We are about to completely transform the banking system.”
📊 What Changes With This Law?
The Investment Banking Law allows the creation of financial entities aimed at sophisticated investors — individuals or institutions with experience in complex markets and at least $250,000 in liquid assets, including bitcoin, bonds, tokenized gold, or other digital instruments.
These new entities will be able to:
- Open accounts and receive deposits in bitcoin.
- Issue both traditional and digital financial instruments.
- Operate under the regulation of the Central Reserve Bank (BCR) and the supervision of the Superintendency of the Financial System (SSF).
🌐 Why Is It Important?
The initiative aims to position El Salvador as a global financial hub focused on bitcoin and fintech innovation. It also seeks to attract international capital, promote the financing of strategic sectors, and pave the way for a digital capital markets ecosystem.
One of the most ambitious projects in development is NEXBRIDGE and NEXPLACE, which have already raised $8 million to build a financial markets platform on the Liquid network, hiring local talent for its implementation.
🌍 International Context
El Salvador is not alone in this effort. In the United States and Europe, major players such as JPMorgan and BBVA are also integrating cryptocurrency services, while fintech firms and investment funds are advancing in the tokenization of assets and the offering of blockchain-based financial products.
Herbert closed her participation with both a warning and a promise:
“Get ready for El Salvador to become a global banking hub very soon.”
