El-Salvador to Launch a New Coin: Salvadoran Crypto Initiative (SCI)

El - Salvador has teamed up with a Canadian company called Astro Babies to launch a new coin called the Salvadoran Crypto Initiative (SCI).

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The new SCI coin would be backed by wrapped bitcoin (WBTC) – meaning that any profits going to the state coffers would arrive in the form of crypto and not in USD.

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However, they still need to obtain approval from the Ministry of Finance for SCI token launch.

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