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A special zone of Honduras’ island adopts Bitcoin as currency

A special zone of Honduras' island adopts Bitcoin as currency 6

Roatan-based Island Prospera adopted Bitcoin as currency, just like El Salvador. 

El Salvador became the first country in the world, which adopted Bitcoin as legal tender on 7 September 2021 legally. Now neighboring countries are also influenced by the Bitcoin law Act of El Salvador and also they are planning to correlate with the Bitcoin technology adoption but surely there is a need for better leadership, like Nayib Bukele, president of El Salvador. 

On 8 April, Prospera, a special zone situated on the island of Roatan which is in mid of Honduras, announced the adoption of Bitcoin and some other cryptocurrencies to use in the payment system just like El Salvador. 

“This new form of foreign direct investment, combined with Prospera’s services, can help transform impoverished communities into flourishing centers of innovation and prosperity.”

a section of the statement reads.”

So here Honduras’ Caribbean island off the northern coast is now holding the tag of the Bitcoin adoptive region after El Salvador in this world. 

Here Prospera is independent from Honduras, at least in terms of its political system at the judicial, economic and administrative levels. Perhaps this zone is under the national government’s Zone for Employment and Economic Development law, which is responsible for bringing employment among such regions.

Interestingly here Honduras has the authority to issue Bitcoin bonds to collect funds and investment for govt initiatives because here Prospera is not registered with the US, and every non-registered country with the US has full authority to do the same. 

Now it will be interesting to see if any action will be taken by Honduras to bring any such kind of Bitcoin-backed bond with this new step of Prospera. El Salvador is already working on its Bitcoin bond to bring investment in Bitcoin mining operations and the development of a bitcoin city. 

Read also: MasterCard jumps in Metaverse and NFTs

A special zone of Honduras’ island adopts Bitcoin as currency


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