Svmuu News: According to data from the Central Bank of El Salvador, the country received more than $5 billion in remittances from abroad in the first half of 2026, of which only $35.4 million was settled via cryptocurrency channels, accounting for approximately 0.7% of the total remittance volume.Although this represents a 39.1% increase from the $25.4 million recorded during the same period in 2025, cryptocurrency has yet to become the primary method of remittance in El Salvador. Currently, banks and traditional money transfer companies still account for over 84% of the market share.
Since El Salvador passed the “Bitcoin” Act in 2021, the government has hoped to reduce cross-border remittance costs through cryptocurrency payment tools such as the Chivo Wallet; however, data shows that the penetration of digital assets in actual remittance scenarios remains limited.
El Salvador passed the “” Act in 2021, designating “Bitcoin” as legal tender. The government-backed Chivo Wallet is gradually ceasing operations in accordance with a credit agreement with the International Monetary Fund (IMF).