Bitfinex Securities earlier today unveiled plans to launch a tokenized debt issue to fund the construction of a “Hampton by Hilton hotel complex at El Salvador International Airport.” The issuance seeks to raise a substantial $6.25 million to facilitate the development of this 4,484-square-meter project.
Bitfinex Ventures Into El Salvador’s Tourism Sector
Bitfinex Securities El Salvador S.A. de C.V., a prominent player in the tokenized securities space, spearheads the tokenized debt issue for the Hampton by Hilton project.
Leveraging blockchain technology and being an integral part of the Bitfinex ecosystem, Bitfinex Securities enables companies to raise capital by directly listing tokenized versions of their shares, bonds, and other financial instruments.
Notably, the issuance of tokenized debt for the El Salvador airport hotel complex represents a landmark moment in the country’s digital asset ecosystem.
Having secured the first regulated license to operate in El Salvador under the country’s Digital Asset Securities Law earlier this year, Bitfinex Securities can now tap into a market hungry for regulated investment opportunities, as reported.
According to the announcement, with the token to be issued on the Liquid Network, a Bitcoin sidechain, investors can participate in this project, trading the token against US dollars and Tether’s USDT stablecoin.
Furthermore, beyond its financial implications, the tokenized debt issuance holds the potential to catalyze economic growth and job creation in El Salvador.
According to the announcement, with a target to generate 1,000 jobs during the construction phase and up to 5,000 jobs upon the complex’s operation, the initiative underscores the impact of crypto-powered investments on local communities.
Roberto Laguardia, president of Inversiones Laguardia, noted:
The recently implemented digital asset laws will grant us access to capital markets that were previously unavailable to us. This access will allow us to develop crucial tourism-related infrastructure, thereby unlocking the potential for growth in the tourism sector. This expansion will ultimately result in economic benefits for every Salvadoran citizen.
El Salvador As A Crypto Hub Nation
Meanwhile, El Salvador continues to boast of being a crypto hub in the region. The country’s Ministry of Education, in collaboration with the nonprofit organization “Mi Primer Bitcoin” (MPB), or “My First Bitcoin” in English, embarked on an initiative to introduce crypto education as an integral part of the public school curriculum. It successfully graduated its first batch of students earlier this month.
Recently reviewed the latest #bitcoin educational material from https://t.co/WfOBElMJN9 in multiple languages free to use https://t.co/iizPUqRuJY open source that has successfully graduated 1000’s.
Fantastic orange pilling tool, efficient and all inclusive for most ages🤙
— Jimi (@CriptoZorro) April 3, 2024
Featured image from Unsplash, Chart from TradingVIew
Powered by WPeMatico
