Bancoagrícola, El Salvador’s largest financial institution, is set to boost the country’s Bitcoin adoption policy following its partnership with digital payments gateway Flexa.
According to an announcement by Flexa on Thursday, Bancoagrícola has inked a deal with the crypto payment network to enable Bitcoin (BTC) transfers for the bank’s customers including retail and merchant clients.
As part of the partnership, Bancoagrícola customers can make credit card payments denominated in United States dollars via Flexa or other Lightning Network-enabled wallets like Chivo and Éclair. According to the release, these payments will not attract any additional fees and also cover loans and merchant goods among others.
Flexa recently added support for Lightning payment with the feature reportedly aimed at merchant clients.
Bancoagrícola’s partnership with Flexa is coming on the heels of Bitcoin officially becoming legal tender in El Salvador.
Reports of retailers in El Salvador accepting Bitcoin are becoming quite commonplace on social media with Cointelegraph reporting that McDonald’s outlets in the country are accepting