Salvadorans Flock Back to Traditional Remittance Channels as Crypto Falls Flat

El Salvador's five-year experiment with making Bitcoin legal tender has yielded disappointing results when it comes to crypto remittances. According to data from the Central Bank of El Salvador, only $35.4 million out of over $5 billion in remittances received between January and June 2026 were sent using digital currencies.

This represents less than 1% of all funds sent to the country during that period. In comparison, cash remittances rose to 3.8%, with traditional channels like banks and firms processing over 84% of all volumes received.

The numbers show a lackluster adoption of digital currencies for remittances in El Salvador, despite early promises of faster settlement times and cost savings.