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).

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.

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