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Crypto remittances in El Salvador hit just 0.7% of $5B market five years after Bitcoin law

Market News
26 Jul 2026, 08:30 WIB
Bitcoin
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Bearish
Crypto remittances in El Salvador hit just 0.7% of $5B market five years after Bitcoin law

Five years after El Salvador legalized Bitcoin, cryptocurrency remittances still account for only 0.7% of the country's $5 billion remittance market. In the first half of 2026, crypto remittances reached $35.4 million, up 39.1% from the previous year but still overshadowed by traditional channels like banks and remittance firms, which handle over 84% of the volume. The government-backed Chivo wallet, once promoted to boost crypto adoption and save $400 million in fees, is now winding down under an IMF deal. This shows that despite initial hopes, digital currencies have yet to significantly disrupt remittance flows in El Salvador.

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