"El Salvador's Central Bank reported that the volume of cryptocurrency remittances rose to $17.38 million in Q1 2026, marking a $5.77 million increase from Q1 2025. Despite this growth, crypto remittances only account for 0.71% of the total remittances, which reached $2.43 billion."
"The U.S. is the main source of remittances to El Salvador, providing over 90% of the total funds. Family remittance volumes grew to $910.81 million in March, reflecting a 7.3% year-over-year increase."
"The sluggish performance of crypto remittances may be influenced by the government's decision to sunset the Chivo wallet, following a credit agreement with the International Monetary Fund in 2025, which could stall future growth."
In Q1 2026, El Salvador's crypto remittances reached $17.38 million, a significant increase from the previous year. Despite this growth, crypto remittances account for only 0.71% of the total $2.43 billion in remittances. The U.S. remains the primary source of these funds, contributing over 90%. The rise in crypto remittances may be hindered by the government's decision to phase out the Chivo wallet due to an IMF credit agreement, which could impact future growth in this sector.
Read at news.bitcoin.com
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