El Salvador's cryptocurrency remittance volume in the first quarter of this year decreased by 44.5% compared to the first four months of last year

According to News.bitcoin, data from the Central Bank of El Salvador shows that in the first quarter of 2025, remittances processed through cryptocurrency decreased by 44.5% compared to the first four months of 2024. During this period, Salvadorans only received $16 million in cryptocurrency, a significant decrease from $28.83 million in the same period last year. In the first quarter of this year, the amount of cryptocurrency remittances did not even reach 1% of the total remittances received by Salvadorans. Cryptocurrency accounted for only 0.52% of the over 3 billion US dollars remitted to Salvadorans between January and April. Analysts and local media claim that Bitcoin has recently been abandoned as a legal tender and removed from the public sector; Isolation&34; It may have affected this result. In addition, the dissolution of Chivo Wallet (a government promoted wallet for remittances) may also have affected these numbers.