Bancoagrícola, a top-tier financial entity in El Salvador – is reportedly planning to form an alliance with digital payments gateway Flexa, as an effort to streamline the nation’s Bitcoin adoption policy. 

Specifically, as revealed by Flexa on September 9th, Bancoagrícola has reportedly entered an agreement with the crypto payment network, to roll out support for Bitcoin (BTC) transfers catering to the clients of the bank, including retail and merchant customers. 

As included within the scope of the alliance, Bancoagrícola customers will reportedly have the ability to carry out credit card payments denominated in United States dollars, using Flexa or other Lightning Network-enabled wallets such as Chivo and Éclair.

Said payments will reportedly not need any extra fees, and will cover loans and merchant goods, among others.

Flexa recently rolled out facilitating features for Lightning payment with the update dedicated primarily to merchant clients.

News regarding Bancoagrícola’s collaboration with Flexa reportedly occurred during the time when Bitcoin was officially recognized as a legal tender in El Salvador.

Reports of retailers in El Salvador adding Bitcoin to its list of viable payment measures are appearing more and more across social media, with a recent update including McDonald’s in the nation including Bitcoin as a payment medium. 

Should El Salvador’s Bitcoin adoption policy turn out a success, top-tier money service providers in the world such as MoneyGram and Western Union may suffer a financial damage as high as $400 million annually.