Crypto makes 0.7% of El Salvador’s $5B remittances
Five years after bitcoin became legal tender, El Salvador received $35.4 million in crypto remittances, 0.7% of $5.06 billion sent in H1 2026.
The Central Bank of El Salvador reported that Salvadorans received $35.4 million in remittances sent via cryptocurrencies between January and June 2026, equal to 0.7% of $5.06 billion in total external remittances for the period.
Total remittances rose to $5.06 billion in the first half of 2026 from $4.84 billion in H1 2025, an increase of $219.2 million, or 4.5%.
Crypto remittances increased 39.1% year-on-year, from $25.4 million in H1 2025 to $35.4 million in H1 2026, while cash remittances handed over in person represented 3.8% of receipts. Banks and licensed remittance companies processed more than 84% of the funds sent to the country.
The Salvadoran government promoted digital payments and the state-backed Chivo wallet to speed settlements and reduce remittance fees. Early government estimates put potential annual savings from a shift to crypto at about $400 million in transaction and intermediary costs.
The Chivo wallet is being wound down under a credit agreement with the International Monetary Fund, removing a public channel for crypto transfers. Bitcoin was declared legal tender in El Salvador in 2021.
Central Bank figures show traditional channels continued to carry the bulk of remittance volumes in H1 2026.
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