Pakistan and El Salvador have officially signed an agreement on cryptocurrency cooperation, opening new opportunities for both countries.
Signing Agreement Between Pakistan and El Salvador
Delegation heads from both countries met in South America, where Bilal bin Saqib, head of Pakistan's crypto council, and President Nayib Bukele signed the strategic knowledge-sharing agreement.
El Salvador's Experience in Bitcoin Accumulation
El Salvador became the first country in the world to adopt Bitcoin as legal tender in September 2021. Currently, the country has accumulated 6,238 Bitcoins worth approximately $745 million.
Prospects and Challenges for Pakistan
Pakistan is just beginning its journey into the world of digital assets, planning to create a strategic Bitcoin reserve. However, the country faces challenges in developing its crypto industry, such as opposition from the International Monetary Fund (IMF).
The agreement between Pakistan and El Salvador marks an important step in developing international cooperation in the field of cryptocurrencies, opening new prospects for both nations.
