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- 1Bukele Turns to Stablecoins as Bitcoin Payments Stall●Bukele Turns to Stablecoins as Bitcoin Payments Fail to Catch On
El Salvador's President Nayib Bukele is pivoting toward stablecoins after bitcoin failed to gain traction as a means of everyday payment in the country, according to Bloomberg. The shift marks a notable retreat from the much-publicised bitcoin legal tender experiment launched in 2021, as the government looks for digital dollar alternatives that Salvadorans will actually use.