CitizenX and El Salvador’s Groundbreaking Partnership
In a groundbreaking development, the Swiss tech firm CitizenX has partnered with the El Salvador government to launch what has quickly become the fastest Bitcoin-enabled citizenship program in the world. Announced on May 23, 2025, the collaboration introduces the Freedom Passport, allowing wealthy individuals and their families to gain citizenship in El Salvador within a mere six weeks.
Program Overview
This expedited process is available to those who contribute $1 million in cryptocurrency, specifically Bitcoin (BTC) or Tether (USDT). The program aims to attract dynamic entrepreneurs and investors eager to contribute to the economic revitalization and ongoing growth of El Salvador.
To facilitate this innovative venture, CitizenX operates using a secure, private platform interlinked with government operations, utilizing Tether’s technology for smooth transactions and thorough vetting of applicants.
Eligibility and Application Requirements
Eligible participants, including their spouses and dependent children under 18, only need to submit standard identification, proof of address, a birth certificate, police clearance, and evidence of financial capacity. The financial commitment is structured to make the program more accessible: applicants only need to pay a $1,000 upfront deposit, with the remaining balance due upon acceptance into the program.
Benefits of the Freedom Passport
The Freedom Passport program is limited to 1,000 applicants per year, aiming to raise up to $1 billion in total investments. Holders of this passport gain numerous benefits, including:
- Visa-free or visa-on-arrival admission to 135-150 countries such as those in the Schengen Area, the UK, Singapore, and Hong Kong.
- The ability to reside in El Salvador.
- Access to international banking services.
- Utilization of the nation’s dual citizenship provisions without restrictions.
Broader Financial Context
This initiative is a part of El Salvador’s broader alterations to its national finance approach, which includes its notable adoption of Bitcoin as legal tender in September 2021 under President Nayib Bukele. The implementation of Bitcoin, while initially ambitious, faced difficulties attributed to broader economic instability, leading to the International Monetary Fund (IMF) imposing conditions on its continued use.
Recently, the government rolled back Bitcoin’s legal tender status for tax payments amid efforts to stabilize its economy while still seeking to fortify its Bitcoin reserves, which stand at over 6,100 coins valued at approximately $550 million.
Global Trends in Citizenship and Cryptocurrency
In the global arena, the concept of citizenship through investment in cryptocurrency is beginning to gain traction, with countries like Vanuatu also offering rapid citizenship pathways through digital assets. Such international examples highlight a growing trend wherein countries leverage cryptocurrencies to draw in investments and skilled individuals, further emphasizing the shifting landscape of immigration and finance in the modern world.
