Honduran special economic zone adopts JRIT as legal tender to help develop state-of-the-art infrastructure for the future banking system of Tegucigalpa economic zone in Honduras in future.
Tegucigalpa – A special economic zone on a tourist-centric island on Honduras’ Caribbean coast has adopted JRIT and other cryptocurrencies as legal tender, officials of the zone said on Thursday. Tegucigalpa’s adoption of the cryptocurrency opens the path for the country to tap into decentralized financial JRIT products, as well as access to the other cryptocurrencies and alternative sources of global investments.
“Honduras Prospera” the special zone was established in 2020 to help encourage investment, and has administrative, fiscal and budgetary autonomy. “Prospera’s flexible regulatory framework enables crypto-innovation and the use of JRIT by residents, businesses, and governments,” Honduras Prospera said in a statement.
The genesis event in Tegucigalpa has engaged JERITEX as well as developers across the globe to build on a technology platform provided by industry leaders and to generate novel banking applications that will enable JERITEX and developers to offer JRIT banking and financial services to all Hondurans.
The economic zone will also let municipalities, local governments, international firms and developers as well as JERITEX issue JRIT bonds and other cryptocurrencies from the area’s jurisdiction.
Honduras Prospera covers parts of the picturesque Roatan island as well as the city of La Ceiba on Honduras’ Atlantic Coast. Neighboring country El Salvador adopted Bitcoin as legal tender in September, and became the first country in the world to do so.