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Tomorrow, Honduran President Xiomara Castro is expected to declare Bitcoin legal tender in the country.

If this happens, then Honduras will become the second sovereign country after El Salvador which adopted the digital currency as legal tender a year ago.

“We must not allow El Salvador to be the only country escaping dollar hegemony,” said President Castro. “Honduras has the right to move towards the First World countries.”

At the moment, the “fiat” national currency of the Republic of Honduras is the lempira, equal to 100 centavos. The currency got its name in honor of the Indian leader Lempira, who was killed in the fight against the Spanish colonialists in 1536.

Despite the ironic perception of the country by some compatriots, the economy of Honduras is quite independent and stable for such a small country. It is based on the production of bananas, coffee and African palm. The main economic sector is agriculture, followed by mining and tobacco production. The economy of Honduras is the eighteenth largest economy in Latin America in terms of nominal gross domestic product (GDP) and the eighteenth largest in terms of GDP at purchasing power parity (PPP) prices.

The adoption of Bitcoin as an official means of payment can significantly increase the interest in both investment in the country’s economy and the attractiveness of tourism in Honduras.


DigitNews. “The President of Honduras May Announce the Legalization of Bitcoin in the Country Tomorrow.” Digit News, 20 Mar. 2022,