El Salvador received more than $5 billion in overseas remittances in the first half of 2026, while only $35.4 million was settled through cryptocurrency channels, according to central bank data.
According to Odaily, the crypto share accounted for about 0.7% of total remittances. That was up 39.1% from $25.4 million in the same period of 2025, but banks and traditional remittance companies still held more than 84% of the market.
Since El Salvador passed its Bitcoin law in 2021, the government had hoped to reduce cross-border remittance costs through crypto payment tools such as Chivo Wallet, but the data showed limited use of digital assets in remittance activity. El Salvador designated Bitcoin as legal tender in 2021, and the government-backed Chivo Wallet is being phased out under a credit agreement with the International Monetary Fund.
El Salvador's First-Half 2026 Crypto Remittances Total $35.4 Million
2026-07-26 05:43:39
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