The Central Bank of Bolivia (BCB) and El Salvador’s National Digital Assets Commission (CNAD) have signed a memorandum of understanding to strengthen bilateral cooperation in cryptocurrency asset development and regulatory advancement, according to Binance.
The agreement marks a notable step for Bolivia, which has historically maintained a conservative stance toward virtual assets. By aligning with El Salvador — the first country to adopt Bitcoin as legal tender — Bolivia aims to accelerate its integration into the global digital economy while drawing on El Salvador’s regulatory frameworks and technological expertise.
Under the agreement, both nations will engage in the exchange of information, experience, and best practices related to blockchain technology, smart contract implementation, digital asset oversight, and financial risk analysis. This collaboration is designed to support Bolivia in developing a secure and compliant crypto ecosystem, with a particular focus on regulatory innovation and institutional capacity building.
Crypto adoption rates across Latin America highlight El Salvador’s leadership, with 15.2% of its population reportedly engaged in digital assets. Bolivia, at just 0.8%, is now taking steps to modernize its regulatory framework through a new partnership with El Salvador.
Partnership aims to boost financial inclusion and regional leadership
BCB emphasized that the partnership will provide new opportunities for Bolivia to attract foreign investment and improve access to financial services. The initiative is expected to diversify financial options for families and small businesses across the country, aligning with Bolivia’s broader goals of digital transformation and economic inclusion.
For El Salvador, the agreement further positions the country as a regional hub for digital asset expertise and regulatory leadership. Since launching its national Bitcoin strategy, El Salvador has actively promoted cross-border cooperation with other Latin American nations seeking to explore blockchain and cryptocurrency technologies.
The memorandum took effect immediately upon signing and signals growing momentum for crypto collaboration across Latin America.