The municipality of Santa Lucia in Honduras has integrated payments into the first cryptocurrency to attract tourists from all over the world. It is reported by Reuters.

“This will open up more opportunities and attract more people who want to use this currency,” said Cesar Andino, manager of the Los Robles marketplace.

According to Macrotrends, the country’s tourism revenue in 2019 was $556 million, and in 2020 it fell to $189 million. Now guests of Santa Lucia can pay for goods in bitcoin, US dollars or Honduran lempiras.

Initially, the Bitcoin Valley initiative was expanded to 60 businesses to test the project. In the future, more entrepreneurs and districts are planned to participate.

The project was jointly developed by the Honduran University of Technology, the Municipality of Santa Lucia, the Coincaex cryptocurrency consortium, and the Honduran Blockchain organization.

“To combat volatility, Bitcoin Valley will allow merchants to receive instant payments in local currencies,” said Leonardo Paguada, founder of Blockchain Honduras.

Earlier, Italian fashion house Gucci and premium brand Balenciaga announced that bitcoin payments are accepted in their US boutiques. A similar initiative was taken by one of the world’s largest airlines, Emirates Airlines.

Recall that in September 2021, the government of El Salvador legalized bitcoin. The country has 2381 BTC (~$55 million) on its balance sheet. According to journalists, the cryptocurrency is worth about 50% less than its purchase price.

According to the research, 84.8% of merchants see bitcoin payments as a tool to attract customers.

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