The Pacific island nation Vanuatu is to accept Bitcoin payments for its $200,000 citizenship program.
It will be the first country to accept crypto-currency for the payment of citizenship fee. Citizenship of the commonwealth nation carries perks such as low taxes and visa free travel to 113 countries such as the UK, Russia and European Union states.
Vanuatu is also latest to join the multi-billion dollar investment migration industry. Thailand, for instance, now offers “elite” residency visas for foreigners with a fee of around $3,000 (£2,403) a year.