Asobitcoin launches advisory program interested in El Salvador

The union offers legal, financial, immigration, and talent regulation advisory services, among others, to foreign companies seeking to establish operations in El Salvador.

El Salvador has become an attractive destination for investments in bitcoin technology due to the facilities offered by the Bitcoin Law and new regulations such as the Law for the Promotion of Innovation and Technological Manufacturing.

To date, 83 companies have registered with the Central Reserve Bank (BCR) as bitcoin service providers, which develop asset custody, digital wallets and payment processing platforms; However, according to Will Hernández, president of the Bitcoin Association of El Salvador (Asobitcoin), there is a “wave” of other foreign firms seeking to establish themselves in the country due to the regulatory certainty that exists.

In this context, Hernández indicated that Asobitcoin recently launched a digital platform in which they offer advice on various issues related to the establishment of a company in the territory.

“We have seen the need of many companies that want to open operations in El Salvador. These services that we offer are for new bitcoin companies that want to come and settle in the country. But why do they want to come to the country? It is because internationally, regulators are putting laws that are hostile to the industry, and El Salvador is a safe place, a place where the rules are clear,” he said.

Among the services available is legal advice with national law firms specialized in crypto assets; financial advice and accounting, where they consider tax strategies; real estate consulting, for those looking to invest in construction or real estate, as well as immigration advice to obtain residence.

Likewise, the union -which currently brings together 20 bitcoin companies- has a virtual assistant program, as well as an initiative to provide technological solutions and human resources.

On this last point, the association leader stated that he has established alliances with universities and with national and regional talent recruitment organizations to identify the human capital that best meets the needs of firms.

«We have the human resources service. The companies that are coming to the country are looking for human capital with very specific specifications within technology, programming, and finance,” he said.

According to Hernández, since the launch of this project was published a week ago, more than 55 requests from people and businessmen have knocked on their doors with a view to integrating into the local ecosystem.

“El Salvador is in the eye of the world with everything that is happening with bitcoin. It is an initiative that is taking place in a country for the first time and we have to do it well. The companies approach the association to find out the situation in El Salvador and what is needed to bring investment, “he concluded.

Source: Diario El Salvador