El Salvador’s State-Owned Banco Hipotecario Taps Four Crypto Startups for Blockchain Products

Posted on by American Coins & Gold

El Salvador’s State-Owned Banco Hipotecario Taps Four Crypto Startups for Blockchain Products
The adoption of bitcoin as legal tender in El Salvador has forced the local financial system to adapt.Staring down these changes, Banco Hipotecario, a national commercial bank in El Salvador, has started working with four companies that will develop blockchain products they say will increase financial inclusion for the bank’s customers.The bank started working with an alliance formed by TESOBE, the company behind the Open Bank Project, and API3, a decentralized autonomous organization that provides data feeds to blockchain-based smart contracts.The alliance also includes decentralized digital asset management infrastructure firm Qredo, and Sovryn, a decentralized bitcoin trading and lending platform.“We…