TechFlow news, June 15 — According to Bitcoin.com News, in the first quarter of 2025, El Salvador's cryptocurrency remittance volume declined by 44.5% year-on-year. In the first four months of this year, residents of El Salvador received only $16 million in cryptocurrency remittances, far below the $28.83 million recorded during the same period last year.
Analysts believe that El Salvador's recent abandonment of Bitcoin's legal tender status and the "isolation" of Bitcoin from the public sector may have influenced this outcome. Additionally, the dissolution of Chivo Wallet—the state-promoted digital wallet used for remittances—could also be one of the factors contributing to the decline in crypto remittances.
Cryptocurrency remittance usage has been on a downward trend since reaching a historical peak of 5% of total remittance inflows in October 2021.
