In El Salvador, there are only 20 registered crypto companies providing Bitcoin services (BSP) operating in the country. This means that 89% of the BSPs are inactive.
El Salvador: lack of interest in Bitcoin? Only 20 crypto companies operate in the country
According to the data from the Central Reserve Bank (BCR), in El Salvador, there are only 20 registered Bitcoin Service Providers (BSP) that actually operate in the country.
Among the 20 active BSPs, there is obviously Chivo, the national crypto wallet that is set to be dissolved as a guarantee of the agreement that the government has made with the International Monetary Fund (IMF).
In practice, 89% of such crypto companies turn out to be inactive, perhaps reflecting a general disinterest specifically for Bitcoin.
On the other hand, last August 2024, the President of El Salvador, Nayib Bukele, had commented that the adoption of BTC in the country was not yet as widespread as hoped. In fact, Bitcoin became legal tender in El Salvador starting from September 2021.
Despite this, Bukele was pleased with what had been achieved from 2021 to today thanks to Bitcoin, even though at an international level.
Staying on the local level, the numbers seem to confirm that BTC is not a solution of great relevance for the average Salvadoran.
El Salvador and the only 20 crypto BSP companies active in the country
Specifically, El Salvador would have registered at least 181 bitcoin service providers that can operate in the Central American country, but 161 of these are listed as “non-operational providers.”
Not only that, at least 22 out of 161 non-operational suppliers did not comply with the provisions of Article 4 of the Bitcoin Law Regulation.
This article establishes that “every Bitcoin service provider must conduct their operations with high standards of integrity and honesty”.
In practice, among the obligations of this regulation are anti-money laundering programs, the maintenance of accounting records, and adequate cybersecurity programs.
In any case, among the 20 BSP crypto companies operating in El Salvador, besides Chivo Wallet, there are also Crypto Trading & Investment, Fintech Américas, among others.
The first Plan ₿ Forum of Tether in the Country
The current situation does not reflect the important steps achieved by El Salvador on the international front.
In fact, among the most recent, we remember the first Plan ₿ Forum El Salvador by Tether which concluded in January 2025. The event was created to promote the adoption of BTC in the country, also announcing the integration of USDT with BTC.
Not only that, the Plan ₿ Forum El Salvador would have been sold out with 2,500 participants.
These participants also witnessed the unveiling of the Statue of Satoshi Nakamoto in El Salvador, the powerful symbol of the country’s commitment to BTC.
